Earnings Per Share

Basic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share ("Diluted EPS") assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period.

The following is a reconciliation of the numerators and denominators used in the calculation of Basic EPS and Diluted EPS for the periods indicated below (in thousands, except per share amounts):



	Year Ended December 31, 2019					Year Ended December 31, 2018
	Net Income (Loss)		Shares	Per Share Amount		Net Income (Loss)		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	114,656	11,753	$	9.76	$	74,615	11,655	$	6.40
Dilutive Securities:
Restricted Stock Unit Awards			25					94
Stock Option Awards			—					15
Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	114,656	11,778	$	9.74	$	74,615	11,764	$	6.34

Approximately 0.5 million and 0.6 million stock options to purchase shares were not included in the computation of Diluted EPS for the years ended December 31, 2019 and 2018 respectively, because these stock options were antidilutive.

Less than 0.3 million and less than 0.1 million shares of restricted stock units that could be converted to common shares were not included in the computation of Diluted EPS for the years ended December 31, 2019 and 2018, respectively, because they were antidilutive.

Less than 0.1 million performance-based restricted stock units were not included in the computation of Diluted EPS for each of the years ended December 31, 2019 and 2018 because they were antidilutive.

Approximately 2.1 million and 4.3 million warrants to purchase common stock were not included in the computation of Diluted EPS for the years ended December 31, 2019 and 2018, respectively, because these warrants were antidilutive.