Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Summary of elements used in calculating basic and diluted earnings per common share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income (loss) from continuing operations	$	2,162	$	(58,402)	$	32,235	$	(88,328)



Amount allocated to participating common shareholders(1)	(24)		—		(559)		—
Income (loss) attributable to common shareholders, before discontinued operations	2,138		(58,402)		31,676		(88,328)
Income (loss) from discontinued operations, net of income tax	—		75		—		(22,048)
Net income (loss) allocated to common shareholders	$	2,138	$	(58,327)	$	31,676	$	(110,376)


Denominator:
Weighted average number of common shares – basic and diluted(2)	84,744,787		83,092,085		84,181,528		83,036,925



Basic and diluted earnings (loss) from continuing operations per share attributable to common shareholders	$	0.03	$	(0.70)	$	0.38	$	(1.06)
Basic and diluted loss from discontinued operations per share attributable to common shareholders	—		—		—		(0.27)
Basic and diluted earnings (loss) per share attributable to common shareholders:	$	0.03	$	(0.70)	$	0.38	$	(1.33)

(1)This represents the share in net income using the two class method of the holders of non-vested restricted shares issued to the Company's employees under the 2019 Omnibus Incentive Plan.

(2)Please refer to "Note 13. Shareholders' Equity" and "Note 14. Share Compensation and Pension Plans" of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, for the terms and conditions of securities that could potentially be dilutive in the future. For the three and nine months ended September 30, 2020, there were no potentially dilutive securities.