EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2019

EARNINGS PER SHARE

EARNINGS PER SHARE

4. EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income 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 is as follows:

	Three months ended March 31,
(In thousands)	2019			2018
Net (loss) income available for stockholders:	$	(739	)	$	52,130
Less: Adjustments for earnings attributable to participating securities		(225	)		(591	)
Net (loss) income used in calculating earnings per share	$	(964	)	$	51,539
Weighted average shares outstanding (including participating securities)		215,041			215,877
Adjustment for participating securities		(2,550	)		(2,584	)
Shares used in calculating basic and diluted earnings per share		212,491			213,293