EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

5.    EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income or loss by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table reflects the

restricted shares of common stock (participating securities) outstanding and a reconciliation of outstanding weighted average shares:

	Three months ended
	March 31,
(In thousands)	2020		2019
Net loss available for stockholders:	$	(160,423)	$	(739)
Less: Adjustments for earnings attributable to participating securities		—		(225)
Net loss income used in calculating earnings per share	$	(160,423)	$	(964)
Weighted average shares outstanding (including participating securities)		215,007		215,041
Adjustment for participating securities		(2,696)		(2,550)
Shares used in calculating basic and diluted earnings per share		212,311		212,491