Net income (loss) per common share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of calculation of basic and diluted weighted-average common shares outstanding and net income (loss) per common share

The following table reflects the calculations of basic and diluted (i) weighted-average common shares outstanding and (ii) net income (loss) per common share for the periods presented:

	Three months ended March 31,
(in thousands, except for per share data)	2020		2019
Net income (loss) (numerator)	$	235,095	$	(9,491	)
Weighted-average common shares outstanding (denominator):
Basic	232,351		230,476
Dilutive non-vested restricted stock awards(1)	1,107		—
Diluted	233,458		230,476
Net income (loss) per common share:
Basic	$	1.01	$	(0.04	)
Diluted	$	1.01	$	(0.04	)

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(1)

The effect of a significant portion of the non-vested restricted stock awards was excluded from the calculation of diluted net income (loss) per common share for the three months ended March 31, 2020. The inclusion of these non-vested restricted stock awards would be anti-dilutive mainly due to the grant-date fair value per common share for the awards being greater than the average closing stock price during the period.