Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.20.4
EARNINGS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Reconciliation of the numerators and denominators used to calculate basic EPS and diluted EPS
The reconciliation of the numerators and denominators used to calculate basic EPS and diluted EPS for the years ended December 31, 2020, 2019 and 2018 are as follows:

  December 31,
(In thousands, except share and per share data) 2020 2019 2018
Net Income (Loss) $ (906,041) $ (76,318) $ 143,689 
Less: Cumulative Dividends on Preferred Stock
15,266  1,029  — 
Net Income (Loss) Attributable to Common Stock $ (921,307) $ (77,347) $ 143,689 
Weighted Average Common Shares Outstanding:
Weighted Average Common Shares Outstanding – Basic* 42,744,639  38,708,460  23,620,646 
Plus: Dilutive Effect of Stock Options, Restricted Stock and Preferred Shares
—  —  56,745 
Weighted Average Common Shares Outstanding – Diluted* 42,744,639  38,708,460  23,677,391 
Net Income (Loss) per Common Share:
Basic* $ (21.55) $ (2.00) $ 6.08 
Diluted* $ (21.55) $ (2.00) $ 6.07 

*Adjusted for the 1-for-10 reverse stock split effected on September 18, 2020. See Note 5.
Securities excluded from the calculation of diluted weighted average common shares outstanding
The following securities have been excluded from the calculation of diluted weighted average common shares outstanding as the inclusion of these securities would have an anti-dilutive effect:

December 31,
2020 2019 2018
Restricted Stock Awards* 98,595  67,304  5,069 
Series A Preferred Stock (if converted)* 9,899,376  7,079,907  — 
Total 9,997,971  7,147,211  5,069 

*Adjusted for the 1-for-10 reverse stock split effected on September 18, 2020. See Note 5.