Income (Loss) Per Share

6 Months Ended

Jun. 30, 2022

Note 8 — Income (Loss) Per Share

Basic earnings per common share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Except when the effect would be antidilutive, diluted earnings per common share includes the impact of RSUs, PSUs and outstanding warrants. The warrants expired unexercised on February 28, 2021.

The following table presents the computation of the Company’s basic and diluted income (loss) per share were as follows (in thousands, except for the per share amounts):


	Three Months Ended June 30,					Six Months Ended June 30,
	2022		2021			2022		2021
Net income (loss)	$	195,141	$	(125,782	)	$	128,700	$	(247,273	)

Weighted average common shares outstanding — basic		82,566		81,823			82,320		81,630
Dilutive effect of securities		1,099		—			927		—
Weighted average common shares outstanding — diluted		83,665		81,823			83,247		81,630

Net income (loss) per common share:
Basic	$	2.36	$	(1.54	)	$	1.56	$	(3.03	)
Diluted	$	2.33	$	(1.54	)	$	1.55	$	(3.03	)
Anti-dilutive potentially issuable securities excluded from diluted common shares		—		869			1,664		2,252