Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2021

Components of Calculation of Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net income (loss)	$	7,596	$	(94,715)	$	(12,425)	$	68,379
Net income (loss) attributable to Noncontrolling interest	(4,551)		—		1,898		—
Net income (loss) attributable to common shareholders (basic)	3,045		(94,715)		(10,527)		68,379
Reallocation of Noncontrolling interest net income (loss)	4,551		—		(1,898)		—
Net income (loss) attributable to common shareholders (diluted)	$	7,596	$	(94,715)	$	(12,425)	$	68,379

Weighted-average shares – basic	15,311		15,167		15,287		15,159
Effect of dilutive securities:
Common Units and Series A Preferred Stock that are exchangeable for common shares	22,549		—		—		—
RSUs and PRSUs	512		—		—		109
Weighted-average shares – diluted 1	38,372		15,167		15,287		15,268

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1 For the six months ended June 30, 2021, approximately 22.8 million potentially dilutive securities represented by approximately 22.5 million Common Units and less than 0.2 million shares of Series A Preferred Stock as well as 0.3 million of RSUs and PRSUs, respectively, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share. For the three months ended June 30, 2020, approximately 0.1 million potentially dilutive securities, represented by RSUs and PRSUs, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share.