Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2021

Net Income (Loss) Per Share

The computation of the Company's basic and diluted net income (loss) per share is as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands, except per share data)
Numerator for basic and diluted income (loss) per common share:
Net income (loss)	$	97,864	$	(103,994)	$	104,346
Less: Net income allocated to unvested participating restricted stock	(2,295)		(420)		(3,532)
Net income (loss) available to common stockholders - basic	95,569		(104,414)		100,814
Effect of unvested participating restricted stock	13		—		33
Numerator - income (loss) available to common shareholders - diluted	$	95,582	$	(104,414)	$	100,847
Denominator:
Weighted average outstanding shares of common stock - basic	16,799		16,230		16,934
Effect of dilutive securities:
Stock options	91		—		311
Weighted average outstanding shares of common stock - diluted	16,890		16,230		17,245
Net income (loss) per common share:
Basic	$	5.69	$	(6.43)	$	5.95
Diluted	$	5.66	$	(6.43)	$	5.85

For the year ended December 31, 2020, diluted loss per common share was computed using the basic weighted average number of shares outstanding during the period as the 100,056 shares from common stock equivalents would have been antidilutive.