Earnings (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per common share

The following table sets forth the computation of basic and diluted earnings (loss) per common share:

 

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
	(in thousands, except per share amounts)
Numerator
Net income (loss)	$	114,501	$	11,254	$	170,577	$	(33,668	)
Denominator
Weighted-average shares outstanding, basic	68,439		68,251		68,410		68,237
Effect of dilutive stock awards	181		59		158		—
Adjusted weighted-average shares outstanding, diluted	68,620		68,310		68,568		68,237
Earnings (loss) per share
Basic earnings (loss) per common share	$	1.67	$	0.16	$	2.49	$	(0.49	)
Diluted earnings (loss) per common share	$	1.67	$	0.16	$	2.49	$	(0.49	)
Anti-dilutive weighted-average shares	127		248		143		264