EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2020

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per common share (“EPS”) is calculated by dividing net income (loss) per common share by the weighted average number of common shares outstanding and Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) for which no future service is required as a condition to the delivery of the underlying common stock (collectively, basic shares). Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect of the common stock deliverable for stock options, using the treasury stock method, and for RSUs and PSUs for which future service is required as a condition to the delivery of the underlying common stock. The table below presents the computations of basic and diluted EPS:


	Three Months Ended March 31,
(in thousands, except per share data)	2020		2019
Net income (loss)	$	(8,878)	$	17,596

Weighted average common shares outstanding, basic	31,569		38,248
Weighted average effect of dilutive securities	91		119
Weighted average common shares outstanding, diluted	31,660		38,367

Per share data
Basic (loss) net income	$	(0.28)	$	0.46
Diluted (loss) net income	$	(0.28)	$	0.46

For the three months ended March 31, 2020, there were 102,443 share-based awards that were considered anti-dilutive. There were no share based awards that were considered anti-dilutive for the three months ended March 31, 2019.