Equity and Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2019

Equity and Earnings Per Common Share

Schedule of weighted average shares outstanding

	Year Ended December 31,
(in thousands)	2017		2018		2019
Basic weighted average number of shares outstanding		186,176		186,203		442,640
Add: Dilutive effect of restricted stock units		—		—		—
Add: Dilutive effect of Series A preferred stock		—		—		—
Diluted weighted average number of shares outstanding		186,176		186,203		442,640
Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share(1):
Restricted stock units		—		—		53
Preferred shares		—		—		1,318

⁽¹⁾ The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common shares, assuming dilution because the inclusion of these awards would have been anti-dilutive.

Schedule of earnings per common share

	Year Ended December 31,
(in thousands, except per share amounts)	2017		2018		2019
Net income (loss)	$	2,325		66,608		(355,114)
Pre-IPO net income attributed to parent		4,939		—		—
Less net income attributable to Series B Units		(784)		(5,236)		—
Less preferred stock dividends		—		—		(442)
Net income (loss) available to common shareholders	$	6,480		61,372		(355,556)
Net income (loss) per share–basic and diluted	$	0.03		0.33		(0.80)
Weighted average common shares outstanding–basic		186,176		186,203		442,640
Weighted average common shares outstanding–diluted		186,176		186,203		442,640