Earnings Per Share

6 Months Ended

Jun. 30, 2020

The following represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the condensed consolidated financial statements:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
	(in thousands, except share and per share amounts)
Net income (loss) to shareholders	$	35,614	$	20,307	$	(1,201)	$	43,035

Weighted average common shares outstanding:
Basic	30,529,241		30,246,420		30,502,774		30,153,426
Common share equivalents	253,368		442,654		—		427,779
Diluted	30,782,609		30,689,074		30,502,774		30,581,205

Earnings (loss) per share:
Basic	$	1.17	$	0.67	$	(0.04)	$	1.43
Common share equivalents	(0.01)		(0.01)		—		(0.02)
Diluted	$	1.16	$	0.66	$	(0.04)	$	1.41

For the three and six months ended June 30, 2020, common share equivalents of 0 and 281,405 shares, respectively (9,735 and 170,310 in the respective prior year periods), were excluded from the calculations of diluted earnings per share as their effects were anti-dilutive.