Earnings per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share, Basic and Diluted [Abstract]

. Earnings per Share

The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net (loss) income per share computations for the three and six months ended June 30, 2020 and 2019 (dollars in thousands, except per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net (loss) income available to common stockholders	$	(99,996)	$	18,936	$	(275,634)	$	57,165
Shares outstanding:
Weighted average shares outstanding – basic	80,053,676		77,682,759		79,009,373		77,625,303
Effect of dilutive securities:
Stock options	—		107,388		—		105,885
RSUs	—		935,142		—		926,364
Weighted average shares outstanding – diluted	80,053,676		78,725,289		79,009,373		78,657,552
Net (loss) income per common share attributable to common stockholders – basic:	$	(1.25)	$	0.24	$	(3.49)	$	0.74
Net (loss) income per common share attributable to common stockholders – diluted:	$	(1.25)	$	0.24	$	(3.49)	$	0.73

For a period in which the Company generated a net loss, the weighted average shares outstanding - basic was used in calculating diluted loss per share because using diluted shares would have been anti-dilutive to loss per share. As such, the weighted average shares outstanding - diluted calculation above excludes 79,759 stock options and 266,523 RSUs for the three months ended June 30, 2020, and excludes 93,456 stock options and 446,910 RSUs for the six months ended June 30, 2020.