EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2019

EARNINGS PER SHARE

Schedule of calculation of earnings (loss) per share

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):

	Successor		Predecessor
	Period from		Period from
	October 2, 2019		January 1, 2019
	through		through		Years Ended December 31,
	December 31, 2019		October 1, 2019		2018		2017
Basic:
Net income (loss) available to common stockholders	$	(10,460)	$	(1,156,053)	$	45,959	$	487,679
Weighted average basic number of common shares outstanding		16,204		158,925		157,011		132,763
Basic net income (loss) per common share	$	(0.65)	$	(7.27)	$	0.29	$	3.67
Diluted:
Net income (loss) available to common stockholders	$	(10,460)	$	(1,156,053)	$	45,959	$	487,679
Weighted average basic number of common shares outstanding		16,204		158,925		157,011		132,763
Common stock equivalent shares representing shares issuable upon:
Exercise of Predecessor stock options		—		Anti-dilutive		Anti-dilutive		Anti-dilutive
Exercise of Predecessor warrants		—		Anti-dilutive		Anti-dilutive		Anti-dilutive
Conversion of Predecessor preferred stock		—		—		—		Anti-dilutive
Vesting of Predecessor restricted shares		—		Anti-dilutive		284		813
Exercise of Successor Series A Warrants		Anti-dilutive		—		—		—
Exercise of Successor Series B Warrants		Anti-dilutive		—		—		—
Exercise of Successor Series C Warrants		Anti-dilutive		—		—		—
Weighted average diluted number of common shares outstanding		16,204		158,925		157,295		133,576
Diluted net income (loss) per common share	$	(0.65)	$	(7.27)	$	0.29	$	3.65