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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2020
EARNINGS PER SHARE  
Schedule of reconciliation between basic and diluted earnings per share

 

The reconciliations between basic and diluted earnings (loss) per share are as follows (in thousands, except per share data):

 

 

 

 

 

 

 

Three Months Ended March 31,

 

2020

    

2019

Net income (loss)

$

60,242

 

$

(37,209)

 

 

 

 

 

 

Weighted average shares:

 

 

 

 

 

    Weighted average common shares outstanding, basic

 

6,874,848

 

 

6,873,950

Diluted effect of Incremental shares related to restricted share units (1)

 

 6

 

 

 —

   Weighted average common shares outstanding, diluted

 

6,874,854

 

 

6,873,950

 

 

 

 

 

 

  Net income (loss) per share:

 

 

 

 

 

Basic

$

8.76

 

$

(5.41)

Diluted

$

8.76

 

$

(5.41)

 

For the three months ended March 31, 2019, the Company had a net loss and therefore the diluted earnings per share calculation for that period excludes anti-dilutive shares of 277 shares of service-based awards.