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Condensed Consolidated Statements of Stockholders' Equity (UNAUDITED) - USD ($)
Total
Common Stock
Additional Paid-in Capital
Accumulated Retained Earnings
Beginning balance, value at Dec. 31, 2018 $ 616,000,000 $ 1,000,000 $ 174,000,000 $ 441,000,000
Beginning balance, shares at Dec. 31, 2018   94,000,000    
Net (loss) income 55,000,000 $ 0 0 55,000,000
Activity related to share-based compensation 1,000,000 0 1,000,000 0
Repurchase and retirement of common stock (97,000,000) $ 0 (5,000,000) (92,000,000)
Repurchase and retirement of common stock, shares   (3,000,000)    
Ending balance, value at Mar. 31, 2019 575,000,000 $ 1,000,000 170,000,000 404,000,000
Ending balance, shares at Mar. 31, 2019   91,000,000    
Beginning balance, value at Dec. 31, 2018 616,000,000 $ 1,000,000 174,000,000 441,000,000
Beginning balance, shares at Dec. 31, 2018   94,000,000    
Net (loss) income [1] 144,352,584      
Ending balance, value at Sep. 30, 2019 494,000,000 $ 1,000,000 174,000,000 319,000,000
Ending balance, shares at Sep. 30, 2019   85,000,000    
Beginning balance, value at Mar. 31, 2019 575,000,000 $ 1,000,000 170,000,000 404,000,000
Beginning balance, shares at Mar. 31, 2019   91,000,000    
Net (loss) income 39,000,000 $ 0 0 39,000,000
Activity related to share-based compensation 10,000,000 0 10,000,000 0
Repurchase and retirement of common stock (174,000,000) $ 0 (11,000,000) (163,000,000)
Repurchase and retirement of common stock, shares   (5,000,000)    
Ending balance, value at Jun. 30, 2019 450,000,000 $ 1,000,000 169,000,000 280,000,000
Ending balance, shares at Jun. 30, 2019   86,000,000    
Net (loss) income 50,000,000 [1] $ 0 0 50,000,000
Activity related to share-based compensation 6,000,000 0 6,000,000 0
Repurchase and retirement of common stock (12,000,000) $ 0 (1,000,000) (11,000,000)
Repurchase and retirement of common stock, shares   (1,000,000)    
Ending balance, value at Sep. 30, 2019 494,000,000 $ 1,000,000 174,000,000 319,000,000
Ending balance, shares at Sep. 30, 2019   85,000,000    
Beginning balance, value at Dec. 31, 2019 $ 570,000,000 $ 1,000,000 179,000,000 390,000,000
Beginning balance, shares at Dec. 31, 2019 85,535,501 85,000,000    
Net (loss) income $ 8,000,000 $ 0 0 8,000,000
Activity related to share-based compensation (5,000,000) 0 (5,000,000) 0
Repurchase and retirement of common stock (10,000,000) $ 0 (2,000,000) (8,000,000)
Repurchase and retirement of common stock, shares   (1,000,000)    
Ending balance, value at Mar. 31, 2020 563,000,000 $ 1,000,000 172,000,000 390,000,000
Ending balance, shares at Mar. 31, 2020   84,000,000    
Beginning balance, value at Dec. 31, 2019 $ 570,000,000 $ 1,000,000 179,000,000 390,000,000
Beginning balance, shares at Dec. 31, 2019 85,535,501 85,000,000    
Net (loss) income [1] $ (46,771,239)      
Ending balance, value at Sep. 30, 2020 $ 522,000,000 $ 1,000,000 186,000,000 335,000,000
Ending balance, shares at Sep. 30, 2020 85,086,548 84,000,000    
Beginning balance, value at Mar. 31, 2020 $ 563,000,000 $ 1,000,000 172,000,000 390,000,000
Beginning balance, shares at Mar. 31, 2020   84,000,000    
Net (loss) income (48,000,000) $ 0 0 (48,000,000)
Activity related to share-based compensation 8,000,000 0 8,000,000 0
Ending balance, value at Jun. 30, 2020 523,000,000 $ 1,000,000 180,000,000 342,000,000
Ending balance, shares at Jun. 30, 2020   84,000,000    
Net (loss) income (6,846,654) [1] $ 0 0 (7,000,000)
Activity related to share-based compensation 6,000,000 0 6,000,000 0
Ending balance, value at Sep. 30, 2020 $ 522,000,000 $ 1,000,000 $ 186,000,000 $ 335,000,000
Ending balance, shares at Sep. 30, 2020 85,086,548 84,000,000    
[1] Net (loss) income for the three months ended September 30, 2020 and 2019 was $(6,846,654) and $50,659,927, respectively, and for the nine months ended September 30, 2020 and 2019 was $(46,771,239) and $144,352,584, respectively.