Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2020

A reconciliation of the numerators and denominators of the basic and diluted per share computations follows:


	Three Months Ended				Nine Months Ended
(In thousands, except per share data)	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Basic:
Net income (loss) attributable to Class A Common Stock	$	9,147	$	7,784	$	(1,236,135)	$	39,316
Weighted average number of common shares outstanding during the period - basic	166,467		166,872		166,728		160,051
Net income (loss) per share of Class A Common Stock - basic	$	0.05	$	0.05	$	(7.41)	$	0.25

Diluted:
Net income (loss) attributable to Class A Common Stock	$	9,147	$	7,784	$	(1,236,135)	$	39,316
Weighted average number of common shares outstanding during the period - basic	166,467		166,872		166,728		160,051
Add: Dilutive effect warrants, stock based compensation, and other	4,209		236		—		1,437
Weighted average number of common shares outstanding during the period - diluted	170,676		167,108		166,728		161,488
Net income (loss) per share of Class A Common Stock - diluted	$	0.05	$	0.05	$	(7.41)	$	0.24

The Company excluded 85.8 million for the three and nine months ended September 30, 2020, 91.8 million for the three months ended September 30, 2019, and 92.3 million for the nine months ended September 30, 2019 of weighted average shares of Class A Common Stock issuable upon the exchange of the Class B Common Stock (and the corresponding Magnolia LLC Units) as the effect was anti-dilutive. In addition, the Company excluded 4.0 million contingent shares of Class A Common Stock issuable to an affiliate of EnerVest, provided EnerVest does not compete in the Market Area, and 0.2 million RSUs and PSU because the effect was anti-dilutive for the nine months ended September 30, 2020.