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Earnings Per Common Share (Tables)
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Schedule of computation of basic and diluted earnings per common share

The following table sets forth the computation of basic and diluted earnings per common share:
 
Three Months Ended
 
March 31,
 
2020
 
2019
Numerator:
 
 
 
Net income (loss)
$
(88,674
)
 
$
495,498

Amounts attributable to noncontrolling interests
232,791

 
(46,970
)
Net income available to Arch
144,117

 
448,528

Preferred dividends
(10,403
)
 
(10,403
)
Net income available to Arch common shareholders
$
133,714

 
$
438,125

 
 
 
 
Denominator:
 
 
 
Weighted average common shares and common share equivalents outstanding — basic
403,892,161

 
400,184,404

Effect of dilutive common share equivalents:
 
 
 
Nonvested restricted shares
2,275,473

 
1,807,488

Stock options (1)
7,865,936

 
6,979,137

Weighted average common shares and common share equivalents outstanding — diluted
414,033,570

 
408,971,029

 
 
 
 
Earnings per common share:
 
 
 
Basic
$
0.33

 
$
1.09

Diluted
$
0.32

 
$
1.07


(1)
Certain stock options were not included in the computation of diluted earnings per share where the exercise price of the stock options exceeded the average market price and would have been anti-dilutive or where, when applying the treasury stock method to in-the-money options, the sum of the proceeds, including unrecognized compensation, exceeded the average market price and would have been anti-dilutive. For the 2020 first quarter and 2019 first quarter, the number of stock options excluded were 1,155,088 and 5,577,724, respectively.