Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Loss Per Common Share

The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended					Nine Months Ended
	September 30, 2020		September 30, 2019			September 30, 2020			September 30, 2019
	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per share
Income (loss) from continuing operations	$	8,461	$	(14,244	)	$	(10,843	)	$	(44,289	)
Income (loss) from discontinued operations, net of tax		264,501		12,637			289,227			(963	)
Net income (loss)	$	272,962		(1,607	)	$	278,384		$	(45,252	)
Basic weighted average common stock outstanding		35,280,864		34,357,745			35,089,479			34,266,513
Basic earnings (loss) per common share
Continuing operations	$	0.24	$	(0.41	)	$	(0.31	)	$	(1.29	)
Discontinued operations		7.50		0.36			8.24			(0.03	)
Total	$	7.74	$	(0.05	)	$	7.93		$	(1.32	)
Diluted earnings (loss) per share
Income (loss) from continuing operations	$	8,461	$	(14,244	)	$	(10,843	)	$	(44,289	)
Add back: Interest expense on Exchangeable Notes		1,429		—			—			—
Income (loss) from continuing operations allocated to common stockholders	$	9,890	$	(14,244	)	$	(10,843	)	$	(44,289	)
Income (loss) from discontinued operations, net of tax		264,501		12,637			289,227			(963	)
Net income (loss) allocated to common stockholders	$	274,391	$	(1,607	)	$	278,384		$	(45,252	)
Basic weighted average common stock outstanding		35,280,864		34,357,745			35,089,479			34,266,513
Net effect of dilutive equity awards		1,156,769		—			—			—
Net effect of assumed conversion of 5.0% Exchangeable Notes to common stock		10,144,155		—			—			—
Diluted weighted average common stock outstanding		46,581,788		34,357,745			35,089,479			34,266,513
Diluted earnings (loss) per common share
Continuing operations	$	0.21	$	(0.41	)	$	(0.31	)	$	(1.29	)
Discontinued operations		5.68		0.36			8.24			(0.03	)
Total	$	5.89	$	(0.05	)	$	7.93		$	(1.32	)

Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share

The following outstanding instruments were excluded from the computation of diluted loss per share, as they have an anti-dilutive effect on the calculation:

	Three Months Ended				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Options		697,667		2,479,423		1,788,202		2,479,423
Restricted Stock Units		—		592,967		1,248,113		592,967