EARNINGS PER SHARE (''EPS'')

9 Months Ended

Sep. 30, 2020

8. EARNINGS PER SHARE (“EPS”)

The computations of basic EPS are based on our weighted average shares outstanding. The basic weighted average number of shares of Common Stock outstanding was 14,805,000 and 14,598,000 for the three months ended September 30, 2020 and 2019, respectively, and 14,729,000 and 14,598,000 for the nine months ended September 30, 2020 and 2019, respectively. In order to calculate the diluted weighted average number of shares of Common Stock outstanding for the three and nine months ended September 30, 2020, the basic weighted average number of shares of Common Stock outstanding was increased by 0 and 108 shares, respectively, to reflect the dilutive effect of certain shares of our Series A Preferred Stock. In order to calculate the diluted weighted average number of shares of Common Stock outstanding for the three and nine months ended September 30, 2019, the basic weighted average number of shares of Common Stock outstanding was increased by 1,000 and 1,227,000, respectively, to reflect the dilutive effect of certain shares of our Series A Preferred Stock. No shares of Series D Preferred Stock outstanding as of September 30, 2020 had a dilutive effect and no shares of Series D Preferred Stock were outstanding as of September 30, 2019. Outstanding Series A Preferred Warrants were not included in the computation of diluted EPS for the three and nine months ended September 30, 2020 and 2019 because their impact was either anti-dilutive or such warrants were not exercisable during such periods (Note 10). Outstanding shares of Series L Preferred Stock were not included in the computation of diluted EPS for the three and nine months ended September 30, 2020 and 2019 because such shares were not redeemable during such periods.

EPS for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS in the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding.

The following table reconciles the numerator and denominator used in computing our basic and diluted per-share amounts for net (loss) income attributable to common stockholders for the three and nine months ended September 30, 2020 and 2019:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in thousands, except per share amounts)
Numerator:
Net (loss) income attributable to common stockholders	$	(9,678)	$	(1,622)	$	(24,606)	$	334,269
Redeemable preferred stock dividends declared on dilutive shares	—		—		(1)		1,917
Diluted net (loss) income attributable to common stockholders	$	(9,678)	$	(1,622)	$	(24,607)	$	336,186
Denominator:
Basic weighted average shares of Common Stock outstanding	14,805		14,598		14,729		14,598
Effect of dilutive securities—contingently issuable shares	—		1		—		1,227
Diluted weighted average shares and common stock equivalents outstanding	14,805		14,599		14,729		15,825
Net (loss) income attributable to common stockholders per share:
Basic	$	(0.65)	$	(0.11)	$	(1.67)	$	22.90
Diluted	$	(0.65)	$	(0.11)	$	(1.67)	$	21.24