Earnings (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Computation of Earnings (Loss) Per Common Share

A summary of the information used in the computation of earnings (loss) per common share follows.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net income (loss) to common shareholders	$	129,582	$	79,356	$	325,472	$	(148,749	)
Net dividends or income allocated to participating securities - basic and diluted		2,419		1,435		6,650		1,278
Net income (loss) allocated to common shareholders - basic and diluted	$	127,163	$	77,921	$	318,822	$	(150,027	)
Denominator:
Weighted-average common shares - basic		86,834		86,358	$	86,800	$	86,614
Dilutive potential common shares		172		42		151		—
Weighted-average common shares - diluted		87,006		86,400	$	86,951	$	86,614
Earnings (loss) per common share:
Basic	$	1.46	$	0.90	$	3.67	$	(1.73	)
Diluted	$	1.46	$	0.90	$	3.67	$	(1.73	)