Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of components used in the calculation of basic and diluted EPS

The following table summarizes the components used in the calculation of basic and diluted earnings per share (EPS):

	Three Months Ended June 30,								Six Months Ended June 30,
	2020				2019				2020				2019
Numerator:
Net (loss) income attributable to common shareholders	$	(7,347	)		$	21,170			$	15,010			$	44,378
Earnings allocated to unvested restricted shares	(135		)		(110		)		(244		)		(190		)
Net (loss) income attributable to common shareholders excluding amounts attributable to unvested restricted shares	$	(7,482	)		$	21,060			$	14,766			$	44,188
Denominator:
Denominator for (loss) earnings per common share – basic:
Weighted average number of common shares outstanding	213,337			(a)	212,951			(b)	213,276			(a)	212,900			(b)
Effect of dilutive securities:
Stock options	—			(c)	—			(c)	—			(c)	—			(c)
RSUs	—			(d)	139			(e)	—			(d)	256			(e)
Denominator for (loss) earnings per common share – diluted:
Weighted average number of common and common equivalent shares outstanding	213,337				213,090				213,276				213,156

(a) Excludes 868 shares of unvested restricted common stock as of June 30, 2020, which equate to 825 and 751 shares for the three and six months ended June 30, 2020, respectively, on a weighted average basis. These shares will continue to be excluded from the computation of basic EPS until contingencies are resolved and the shares are released.

(b) Excludes 667 shares of unvested restricted common stock as of June 30, 2019, which equate to 660 and 631 shares for the three and six months ended June 30, 2019, respectively, on a weighted average basis. These shares were excluded from the computation of basic EPS as the contingencies remained and the shares had not been released as of the end of the reporting period.

(c) There were outstanding options to purchase 16 and 22 shares of common stock as of June 30, 2020 and 2019, respectively, at a weighted average exercise price of $15.87 and $17.34, respectively. Of these totals, outstanding options to purchase 16 and 18 shares of common stock as of June 30, 2020 and 2019, respectively, at a weighted average exercise price of $15.87 and $18.58, respectively, have been excluded from the common shares used in calculating diluted EPS as including them would be anti-dilutive.

(d) As of June 30, 2020, there were 974 RSUs eligible for future conversion upon completion of the performance periods (see Note 5 to the condensed consolidated financial statements), which equate to 974 and 971 RSUs, respectively, on a weighted average basis for the three and six months ended June 30, 2020. These contingently issuable shares have been excluded from the common shares used in calculating diluted EPS as including them would be anti-dilutive.

(e)

As of June 30, 2019, there were 839 RSUs eligible for future conversion upon completion of the performance periods, which equate to 839 and 835 RSUs, respectively, on a weighted average basis for the three and six months ended June 30, 2019. These contingently issuable shares are a component of calculating diluted EPS.