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Earnings Per Share
 6 Months Ended
Jun. 30, 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
June 30,
 
Six Months Ended
June 30,
 
 
2020
 
2019
 
2020
 
2019
 
 
(In thousands, except per share data)
Net income (loss) attributable to HollyFrontier stockholders
 
$
(176,677
)
 
$
196,915

 
$
(481,300
)
 
$
449,970

Participating securities’ (restricted stock) share in earnings
 
—

 
283

 
—

 
647

Net income (loss) attributable to common shares
 
$
(176,677
)
 
$
196,632

 
$
(481,300
)
 
$
449,323

Average number of shares of common stock outstanding
 
161,889

 
169,356

 
161,882

 
170,100

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

 
1,191

 
—

 
1,164

Average number of shares of common stock outstanding assuming dilution
 
161,889

 
170,547

 
161,882

 
171,264

Basic earnings (loss) per share
 
$
(1.09
)
 
$
1.16

 
$
(2.97
)
 
$
2.64

Diluted earnings (loss) per share
 
$
(1.09
)
 
$
1.15

 
$
(2.97
)
 
$
2.62

(1) Excludes anti-dilutive restricted and performance share units of:
 
590

 
160

 
585

 
131