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Earnings (Loss) Per Share | 12 Months Ended
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Dec. 31, 2018
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | EARNINGS (LOSS) PER SHARE The Company utilizes the two-class method for the computation of EPS. The two-class method requires a portion of net income to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents. The Company’s restricted stock awards qualify as participating securities as each contain non-forfeitable rights to dividends. Income allocated to these participating securities is excluded from net earnings available to common shares, as shown in the table below. Basic EPS is computed by dividing net income available to basic common shares by the weighted average number of basic common shares outstanding during the period. Diluted EPS is computed by dividing net income available to diluted common shares by the weighted average number of dilutive common shares outstanding during the period. The following table sets forth the calculation of EPS for the years ended December 31, 2018, 2017, and 2016 (in thousands, except per share amounts):
|  | Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Weighted average basic common shares outstanding |  | 19,453 |  |  | 20,420 |  |  | 21,161 |
Dilutive effect of employee stock purchases, net of assumed repurchase of treasury stock |  | 8 |  |  | 5 |  |  | 9 |
Weighted average dilutive common shares outstanding |  | 19,461 |  |  | 20,425 |  |  | 21,170 |
Basic: |  |  |  |  |  |
Net income (loss) |  | $ | 157,772 |  |  | $ | 213,442 |  |  | $ | 147,065 |
Less: Earnings (loss) allocated to participating securities |  | 5,416 |  |  | 7,512 |  |  | 5,871 |
Earnings (loss) available to basic common shares |  | $ | 152,356 |  |  | $ | 205,930 |  |  | $ | 141,194 |
Basic earnings (loss) per common share |  | $ | 7.83 |  |  | $ | 10.08 |  |  | $ | 6.67 |
Diluted: |  |  |  |  |  |
Net income (loss) |  | $ | 157,772 |  |  | $ | 213,442 |  |  | $ | 147,065 |
Less: Earnings (loss) allocated to participating securities |  | 5,414 |  |  | 7,511 |  |  | 5,869 |
Earnings (loss) available to diluted common shares |  | $ | 152,358 |  |  | $ | 205,931 |  |  | $ | 141,196 |
Diluted earnings (loss) per common share |  | $ | 7.83 |  |  | $ | 10.08 |  |  | $ | 6.67 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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