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Earnings (Loss) Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Computation of Earnings (Loss) Per Common Share

A summary of the information used in the computation of earnings (loss) per common share follows.

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(in thousands, except per share data)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) to common shareholders

 

$

79,356

 

 

$

67,807

 

 

$

(148,749

)

 

$

235,248

 

Net dividends or income allocated to participating securities - basic and diluted

 

 

1,435

 

 

 

1,141

 

 

 

1,278

 

 

 

3,980

 

Net income (loss) allocated to common shareholders - basic and diluted

 

$

77,921

 

 

$

66,666

 

 

$

(150,027

)

 

$

231,268

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares - basic

 

 

86,358

 

 

 

86,377

 

 

$

86,614

 

 

$

85,934

 

Dilutive potential common shares

 

 

42

 

 

 

85

 

 

 

—

 

 

 

76

 

Weighted-average common shares - diluted

 

 

86,400

 

 

 

86,462

 

 

$

86,614

 

 

$

86,010

 

Earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.90

 

 

$

0.77

 

 

$

(1.73

)

 

$

2.69

 

Diluted

 

$

0.90

 

 

$

0.77

 

 

$

(1.73

)

 

$

2.69