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Income (Loss) Per Common Share (Tables)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Computations of Basic and Diluted Income (Loss) Per Common Share

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common shareholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands, except per share amounts):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net loss, as reported

 

$

(350,267

)

 

$

(748,790

)

 

$

(479,588

)

 

$

(750,178

)

Participating earnings (a)

 

 

 

 

 

 

 

 

 

 

 

 

Basic net loss attributed to common shareholders

 

 

(350,267

)

 

 

(748,790

)

 

 

(479,588

)

 

 

(750,178

)

Reallocation of participating earnings (a)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net loss attributed to common
   shareholders

 

$

(350,267

)

 

$

(748,790

)

 

$

(479,588

)

 

$

(750,178

)

Net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(1.44

)

 

$

(3.12

)

 

$

(1.98

)

 

$

(3.10

)

Diluted

 

$

(1.44

)

 

$

(3.12

)

 

$

(1.98

)

 

$

(3.10

)

 

(a)

Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

Basic Weighted Average Common Shares Outstanding and Diluted Weighted Average Common Shares Outstanding

The following details weighted average common shares outstanding and diluted weighted average common shares outstanding (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Weighted average common shares outstanding – basic and diluted

 

 

243,311

 

 

 

239,895

 

 

 

242,692

 

 

 

241,770