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(Loss) Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share (Loss) Earnings Per Share
 
Basic (loss) earnings per common share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding for the period. Warrants issued in connection with the Company's long-term debt were issued at a nominal exercise price and are considered outstanding at the date of issuance. Diluted (loss) earnings per share is calculated by dividing net (loss) income by the weighted average shares outstanding assuming dilution. Dilutive common shares outstanding is computed using the treasury stock method and reflects the additional shares that would be outstanding if dilutive stock options were exercised and restricted stock and restricted stock units were settled for common shares during the period. In addition, dilutive shares would include any shares issuable related to PSUs for which the performance conditions have been met as of the end of the period.

For the year ended December 31, 2017, 1.1 million options and restricted common shares were excluded from the calculation as these options and restricted common shares were anti-dilutive. There was no anti-dilutive impact for the years ended December 31, 2019 and 2018 as result of a net loss incurred in each period. The warrants related to the long-term debt are classified and recorded as a liability at fair value with subsequent changes in fair value recognized in earnings. Refer to Note 10, Long-Term Debt, for additional information.  For diluted EPS, fair value adjustments related to the warrants are adjusted out of earnings; however, as a result of the net loss incurred during the period, the adjustment is considered anti-dilutive and the loss for the period is not adjusted for the period ended December 31, 2019.
 
The computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2019, 2018 and 2017, is as follows (in thousands, except per share amounts):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Net (loss) income
$
(10,075
)
 
$
(76,683
)
 
$
15,869

 
 
 
 
 
 
Shares used in computing per share amounts:
 

 
 

 
 

Weighted average shares outstanding
51,958

 
52,230

 
53,851

Issuance of warrants
1,335

 
—

 
—

Weighted average shares outstanding - basic
53,293

 
52,230

 
53,851

Employee stock options and restricted common shares
—

 
—

 
1,093

Weighted average shares outstanding - diluted
53,293

 
52,230

 
54,944

 
 
 
 
 
 
Basic (loss) earnings per share
$
(0.19
)
 
$
(1.47
)
 
$
0.29

Diluted (loss) earnings per share
$
(0.19
)
 
$
(1.47
)
 
$
0.29