Earnings Per Share

3 Months Ended

Mar. 31, 2021

13. Earnings Per Share

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

Basic EPS excludes dilution and is computed by first allocating earnings between common stockholders and holders of non-vested shares of restricted stock. Basic EPS is then determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period, excluding non-vested shares of restricted stock.

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 loss per share for the three months ended March 31, 2021 and 2020 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
	March 31,
	2021			2020
BASIC EPS:
Net loss attributed to common stockholders	$	(106,413	)	$	(434,722	)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock		187,677			190,674
Basic net loss per common share	$	(0.57	)	$	(2.28	)
DILUTED EPS:
Net loss attributed to common stockholders	$	(106,413	)	$	(434,722	)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock		187,677			190,674
Add dilutive effect of potential common shares		—			—
Weighted average number of diluted common shares outstanding		187,677			190,674
Diluted net loss per common share	$	(0.57	)	$	(2.28	)
Potentially dilutive securities excluded as anti-dilutive		8,941			9,200