NET (LOSS) INCOME PER SHARE

6 Months Ended

Jun. 30, 2020

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net (loss) income per share is determined using net (loss) income applicable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts). Due to the net loss applicable to common stockholders for the three and six months ended June 30, 2020, no securities had a dilutive impact for these periods.


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Basic net (loss) income per share:
Net (loss) income applicable to common stockholders	$	(146)	$	30,960	$	(106,793)	$	45,740
Weighted average common shares outstanding	52,874		55,197		53,015		55,233
Basic net (loss) income per share	$	0.00	$	0.56	$	(2.01)	$	0.83

Diluted net (loss) income per share:
Net (loss) income applicable to common stockholders	$	(146)	$	30,960	$	(106,793)	$	45,740

Weighted average common shares outstanding	52,874		55,197		53,015		55,233
Dilutive stock options and restricted stock	—		471		—		486
Diluted weighted average common shares outstanding	52,874		55,668		53,015		55,719
Diluted net (loss) income per share	$	0.00	$	0.56	$	(2.01)	$	0.82