Earnings Per Share

12 Months Ended

Dec. 31, 2020

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, 2020					Year Ended December 31, 2019
	Net Income (Loss)		Shares	Per Share Amount		Net Income (Loss)		Shares	Per Share Amount
Basic EPS:
Net Income (Loss) and Share Amounts	$	(309,382)	11,902	$	(25.99)	$	114,656	11,753	$	9.76
Dilutive Securities:

Restricted Stock Unit Awards			—					25
Stock Option Awards			—					—
Diluted EPS:
Net Income (Loss) and Assumed Share Conversions	$	(309,382)	11,902	$	(25.99)	$	114,656	11,778	$	9.74

Approximately 0.3 million and 0.5 million stock options to purchase shares were not included in the computation of Diluted EPS for the years ended December 31, 2020 and 2019 respectively, because these stock options were antidilutive.

Approximately 0.2 million and 0.3 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, 2020 and 2019, respectively, because they were antidilutive.

Approximately 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, 2020 and 2019 because they were antidilutive.

Approximately 2.1 million warrants to purchase common stock were not included in the computation of Diluted EPS for the year ended December 31, 2019 because these warrants were antidilutive. There were no warrants to purchase common stock for the year ended December 31, 2020 as the warrants expired.