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Earnings Per Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings per share is calculated as net income (loss) attributable to HollyFrontier stockholders divided by the average number of shares of common stock outstanding. Diluted earnings per share assumes, when dilutive, the issuance of the net incremental shares from restricted shares and performance share units. The following is a reconciliation of the denominators of the basic and diluted per share computations for net income (loss) attributable to HollyFrontier stockholders:
 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
 
 
(In thousands, except per share data)
Net income (loss) attributable to HollyFrontier stockholders
 
$
1,097,960

 
$
805,395

 
$
(260,453
)
Participating securities’ (restricted stock) share in earnings
 
3,714

 
5,047

 
1,003

Net income (loss) attributable to common shares
 
$
1,094,246

 
$
800,348

 
$
(261,456
)
Average number of shares of common stock outstanding
 
175,009

 
176,174

 
176,101

Effect of dilutive variable restricted shares and performance share units (1)
 
1,652

 
1,022

 
—

Average number of shares of common stock outstanding assuming dilution
 
176,661

 
177,196

 
176,101

Basic earnings (loss) per share
 
$
6.25

 
$
4.54

 
$
(1.48
)
Diluted earnings (loss) per share
 
$
6.19

 
$
4.52

 
$
(1.48
)
 
 
 
 
 
 
 
(1) Excludes anti-dilutive restricted and performance share units of:
 
238

 
543

 
469