EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

5.    EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net 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 shows the restricted shares of common stock (participating securities) outstanding and a reconciliation of outstanding weighted average shares:

	Three months ended				Six months ended
	June 30				June 30
(In thousands)	2020		2019		2020		2019
Net (loss) income available for stockholders:	$	(25,093)	$	6,171	$	(185,516)	$	5,432
Less: Adjustments for earnings attributable to participating securities		—		(109)		—		(334)
Net (loss) income used in calculating earnings per share	$	(25,093)	$	6,062	$	(185,516)	$	5,098
Weighted average shares outstanding (including participating securities)		215,174		214,908		215,090		214,974
Adjustment for participating securities		(2,772)		(2,569)		(2,730)		(2,559)
Shares used in calculating basic and diluted earnings per share		212,402		212,339		212,360		212,415