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Earnings Per Share
 3 Months Ended
Mar. 31, 2020
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 stock units 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:
 
 
Three Months Ended March 31,
 
 
2020
 
2019
 
 
(In thousands, except per share data)
Net income (loss) attributable to HollyFrontier stockholders
 
$
(304,623
)
 
$
253,055

Participating securities’ (restricted stock) share in earnings
 
—

 
364

Net income (loss) attributable to common shares
 
$
(304,623
)
 
$
252,691

Average number of shares of common stock outstanding
 
161,873

 
170,851

Effect of dilutive variable restricted stock units and performance share units (1)
 
—

 
1,388

Average number of shares of common stock outstanding assuming dilution
 
161,873

 
172,239

Basic earnings (loss) per share
 
$
(1.88
)
 
$
1.48

Diluted earnings (loss) per share
 
$
(1.88
)
 
$
1.47

(1) Excludes anti-dilutive restricted and performance share units of:
 
—

 
—