Earnings Per Share

12 Months Ended

Dec. 31, 2022

15. Earnings Per Share

We provide a dual presentation of our net income (loss) per common share in our consolidated statements of operations: basic net income (loss) per common share (“Basic EPS”) and diluted net income (loss) per common share (“Diluted EPS”).

Basic EPS excludes dilution and is determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period.

Diluted EPS is based on the weighted average number of common shares outstanding plus the dilutive effect of potential common shares, including stock options, non-vested shares of restricted stock, performance units and restricted stock units. The dilutive effect of stock options, performance units and restricted stock units is determined using the treasury stock method.

The following table presents information necessary to calculate net income (loss) per share for the years ended December 31, 2022, 2021 and 2020, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):


	2022		2021			2020
BASIC EPS:
Net income (loss) from continuing operations attributed to common stockholders	$	154,658	$	(657,079	)	$	(803,692	)
Net income from discontinued operations attributed to common stockholders	$	—	$	2,534		$	—
Net income (loss) attributed to common stockholders	$	154,658	$	(654,545	)	$	(803,692	)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock		215,935		195,021			188,013
Basic income (loss) from continuing operations per common share	$	0.72	$	(3.37	)	$	(4.27	)
Basic income from discontinued operations per common share	$	—	$	0.01		$	—
Basic net income (loss) per common share	$	0.72	$	(3.36	)	$	(4.27	)

DILUTED EPS:
Net income (loss) from continuing operations attributed to common stockholders	$	154,658	$	(657,079	)	$	(803,692	)
Net income from discontinued operations attributed to common stockholders	$	—	$	2,534		$	—
Net income (loss) attributed to common stockholders	$	154,658	$	(654,545	)	$	(803,692	)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock		219,496		195,021			188,013
Diluted income (loss) from continuing operations per common share	$	0.70	$	(3.37	)	$	(4.27	)
Diluted income from discontinued operations per common share	$	—	$	0.01		$	—
Diluted net income (loss) per common share	$	0.70	$	(3.36	)	$	(4.27	)
Potentially dilutive securities excluded as anti-dilutive		3,541		9,551			8,747