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Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share
22. Earnings Per Share
The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:
                         
 
Years Ended December 31,
 
   
2019
 
  
2018
 
  
2017
 
Basic (Loss)/Earnings per Share
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss)/income
  $
(10,425
)    $
36,633
    $
27,199
 
Less: Income distributed to participating securities
   
(2,163
 )    
(1,595
 )    
(696
 )
Less: Undistributed income allocable to participating securities
   
—
     
(1,409
 )    
—  
  
                         
Net (loss)/income available to common stockholders—Basic EPS
  $
(12,588
)    $
33,629
    $
26,503
 
Weighted average common shares (in thousands)
   
151,823
     
146,645
     
134,614
 
                         
Basic (loss)/earnings per share
  $
(0.08
)    $
0.23
    $
0.20
 
                         
       
 
Years Ended December 31,
 
 
  
2019
 
  
2018
 
  
2017
 
Diluted (Loss)/Earnings per Share
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss)/income available to common stockholders
  $
(12,588
)    $
33,629
    $
26,503
 
Add back: Undistributed income allocable to participating securities
   
—
     
1,409
     
—  
  
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive
   
—
     
(1,403
 )    
—  
  
                         
Net (loss)/income available to common stockholders—Diluted EPS
  $
(12,588
)    $
33,635
    $
26,503
 
                         
Weighted Average Diluted Shares (in thousands)
:
    
     
     
 
Weighted average common shares
   
151,823
     
146,645
     
134,614
 
Dilutive effect of common stock equivalents, excluding participating securities
   
—
     
645
     
944
 
                         
Weighted average diluted shares, excluding participating securities (in thousands)
   
151,823
     
147,290
     
135,558
 
                         
Diluted (loss)/earnings per share
  $
(0.08
)    $
0.23
    $
0.20
 
                         
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted (loss)/earnings per share presented above is calculated using the
two-class
method as this method results in the lowest diluted earnings per share amount for common stock. During the year ended December 31, 2019, the Company excluded 152,085 common stock equivalents from its computation of diluted loss per share as the Company had reported a net loss for the period. The Company excluded 7,886 and 5,025 common stock equivalents from its computation of diluted earnings per share for the years ended December 31, 2018 and 2017, respectively, as they were determined to be anti-dilutive.
The following table reconciles weighted average diluted shares as reported on the Company’s consolidated statements of operations for the years
ended
December 31, 2019, 2018 and 2017 to the weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above:
                         
 
Years Ended December 31,
 
 
  
2019
 
  
2018
 
  
2017
 
Reconciliation of Weighted Average Diluted Shares (in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average diluted shares as disclosed on the consolidated statements of operations
   
151,823
(1)
 		    
158,415
     
136,003
 
Less: Participating securities:
   
     
     
 
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note
14
)
   
—
     
(10,709
 )    
—  
  
Potentially dilutive restricted stock awards
   
—
     
(416
 )    
(445
 )
                         
Weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above
   
151,823
(1)
 		    
147,290
     
135,558
 
                         
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes participating securities and potentially dilutive common stock equivalents as the Company reported a net loss for the period.