Income (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2018

Computations of Basic and Diluted (Loss) Income Per Common Share

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common shareholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands except per share amounts):

		Three Months Ended September 30,						Nine Months Ended September 30,
		2018			2017			2018			2017
Net income (loss), as reported	$	48,539		$	(127,700	)	$	17,941		$	111,961
Participating earnings ^(a)		(590	)		(58	)		(224	)		(1,251	)
Basic net income (loss) attributed to common shareholders		47,949			(127,758	)		17,717			110,710
Reallocation of participating earnings ^(a)		2			—			—			1
Diluted net income (loss) attributed to common shareholders	$	47,951		$	(127,758	)	$	17,717		$	110,711
Net income (loss) per common share:
Basic	$	0.19		$	(0.52	)	$	0.07		$	0.45
Diluted	$	0.19		$	(0.52	)	$	0.07		$	0.45

^(a)

Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding

The following provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
Weighted average common shares outstanding – basic	246,451	245,244	246,016	245,027
Effect of dilutive securities:
Director and employee PSUs and RSUs	715	—	863	253
Weighted average common shares outstanding – diluted	247,166	245,244	246,879	245,280