Earnings Per Share

9 Months Ended

Sep. 30, 2022

13. Earnings Per Share

We provide a dual presentation of our net income (loss) per common share in our unaudited condensed consolidated statements of operations: basic net income (loss) per common share (“Basic EPS”) and diluted net income (loss) per common share (“Diluted EPS”).

Basic EPS excludes dilution and is determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period.

Diluted EPS is based on the weighted average number of common shares outstanding plus the dilutive effect of potential common shares, including stock options, non-vested shares of restricted stock, performance units and restricted stock units. The dilutive effect of stock options, performance units and non-vested restricted stock units is determined using the treasury stock method.

The following table presents information necessary to calculate net income (loss) per share for the three and nine months ended September 30, 2022 and 2021 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2022		2021			2022		2021
BASIC EPS:
Net income (loss) attributed to common stockholders	$	61,452	$	(82,998	)	$	54,561	$	(292,720	)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock		216,822		188,965			216,090		188,355
Basic net income (loss) per common share	$	0.28	$	(0.44	)	$	0.25	$	(1.55	)
DILUTED EPS:
Net income (loss) attributed to common stockholders	$	61,452	$	(82,998	)	$	54,561	$	(292,720	)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock		216,822		188,965			216,090		188,355
Add dilutive effect of potential common shares		3,632		—			3,291		—
Weighted average number of diluted common shares outstanding		220,454		188,965			219,381		188,355
Diluted net income (loss) per common share	$	0.28	$	(0.44	)	$	0.25	$	(1.55	)
Potentially dilutive securities excluded as anti-dilutive		3,359		9,334			3,359		9,334