Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Earnings (Loss) per Share

Earnings (Loss) per Share

The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings (loss) per share:

	Earnings (Loss)		Weighted Average Shares	Earnings (Loss) Per Share
	(In thousands, except per share amounts)
Three Months Ended September 30, 2021
Basic earnings per share	$	28,599	36,577	$	0.78
Effect of dilutive securities
Restricted stock units	—		343
Restricted stock awards	—		28
Performance share units (1)	—		—
Warrants	—		—
Stock options	—		48
Diluted earnings share (2)	$	28,599	36,996	$	0.77
Three Months Ended September 30, 2020
Basic loss per share	$	(48,749)	35,783	$	(1.36)
Effect of dilutive securities
Restricted stock awards	—		—
Performance share units	—		—
Warrants	—		—
Stock options	—		—
Diluted loss per share (3)	$	(48,749)	35,783	$	(1.36)
Nine Months Ended September 30, 2021
Basic earnings per share	$	79,894	36,318	$	2.20
Effect of dilutive securities
Restricted stock units	—		787
Restricted stock awards	—		54
Performance share units (1)	—		—
Warrants	—		—
Stock options	—		41
Diluted earnings per share (2)	$	79,894	37,200	$	2.15
Nine Months Ended September 30, 2020
Basic loss per share	$	(277,198)	35,649	$	(7.78)
Effect of dilutive securities
Restricted stock awards	—		—
Performance share units	—		—
Warrants	—		—
Stock options	—		—
Diluted loss per share (3)	$	(277,198)	35,649	$	(7.78)

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(1)The performance share unit awards are contingently issuable and are considered in the calculation of diluted earnings per share. The Company assesses the number of awards that would be issuable, if any, under the terms of the agreement if the end of the reporting period were the end of the contingency period.

(2)The incremental shares of potentially dilutive restricted stock units and restricted stock awards were included for the three and nine-month periods ended September 30, 2021 as their effect was dilutive under the treasury stock method.

(3)No incremental shares of potentially dilutive restricted stock awards, performance share units, warrants or stock options were included for the three and nine-month periods ended September 30, 2020, as their effect was antidilutive under the treasury stock method.