Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

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 years ended December 31, 2021, 2020 and 2019:


	Year Ended December 31,
	2021		2020		2019
	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per share
Income (loss) from continuing operations	$	56,708	$	57,059	$	(20,413	)
Income (loss) from discontinued operations, net of tax		—		287,906		(1,413	)

Net income (loss)	$	56,708	$	344,965	$	(21,826	)

Basic weighted average common stock outstanding		44,879,412		35,213,525		34,321,888
Basic earnings (loss) per common share
Continuing operations	$	1.26	$	1.62	$	(0.59	)
Discontinued operations		—		8.18		(0.05	)

Total	$	1.26	$	9.80	$	(0.64	)

Diluted earnings (loss) per share
Income (loss) from continuing operations	$	56,708	$	57,059	$	(20,413	)
Add back: Interest expense on Exchangeable Notes		959		5,708		—

Income (loss) from continuing operations allocated to common stockholders	$	57,667	$	62,767	$	(20,413	)
Income (loss) from discontinued operations, net of tax		—		287,906		(1,413	)

Net income (loss) allocated to common stockholders	$	57,667	$	350,673	$	(21,826	)

Basic weighted average common stock outstanding		44,879,412		35,213,525		34,321,888
Net effect of dilutive equity awards		1,403,789		1,145,906		—
Net effect of assumed conversion of 5.0% Exchangeable Notes to common stock		1,426,172		10,144,155		—

Diluted weighted average common stock outstanding		47,709,373		46,503,586		34,321,888
Diluted earnings (loss) per common share
Continuing operations	$	1.21	$	1.35	$	(0.59	)
Discontinued operations		—		6.19		(0.05	)

Total	$	1.21	$	7.54	$	(0.64	)

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:


	Year Ended December 31,
	2021		2020		2019
Options		50,000		651,417		2,177,045
Restricted Stock Units		—		—		1,043,303