(Loss) Earnings Per Share

12 Months Ended

Dec. 31, 2020

Note 14. (Loss) Earnings Per Share

A reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share data):


	Year Ended December 31,
	2020		2019		2018
Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. for basic and diluted (loss) earnings per share	$	(5,797,462)	$	1,878,887	$	1,811,042
Weighted-average common shares outstanding	214,335		209,405		210,570
Dilutive effect of stock-based awards	—		525		984
Diluted weighted-average shares outstanding	214,335		209,930		211,554
Basic (loss) earnings per share	$	(27.05)	$	8.97	$	8.60
Diluted (loss) earnings per share	$	(27.05)	$	8.95	$	8.56

There were approximately 282,118 antidilutive shares for the year ended December 31, 2020, compared to no antidilutive shares for the years ended December 31, 2019 and 2018.

Since the Company expects to settle in cash the principal outstanding under our convertible notes that mature in 2023, we currently use the treasury stock method when calculating their potential dilutive effect, if any. While no shares of the convertible notes are currently convertible, they would be anti-dilutive for the year ended December 31, 2020.