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Earnings Per Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | 20. Earnings Per Share The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:
|  | Three Months Ended March 31, |
|  |  | 2020 |  |  |  | 2019 |
Basic Earnings per Share |  |  |  |  |  |  |  |
Net (loss)/income |  | $ | (8,638 | ) |  | $ | 8,824 |
Less: Income distributed to participating securities |  |  | (555 | ) |  |  | (544 | )
Less: Undistributed income allocable to participating securities |  |  | — |  |  |  | (391 | )
Net (loss)/income available to common stockholders – Basic EPS |  | $ | (9,193 | ) |  | $ | 7,889 |
Weighted average common shares (in thousands) |  |  | 152,519 |  |  |  | 151,625 |
Basic (loss)/earnings per share |  | $ | (0.06 | ) |  | $ | 0.05 |
|  | Three Months Ended March 31, |
|  |  | 2020 |  |  |  | 2019 |
Diluted Earnings per Share |  |  |  |  |  |  |  |
Net (loss)/income available to common stockholders |  | $ | (9,193 | ) |  | $ | 7,889 |
Add back: Undistributed income allocable to participating securities |  |  | — |  |  |  | 391 |
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive |  |  | (— | ) |  |  | (390 | )
Net (loss)/income available to common stockholders – Diluted EPS |  | $ | (9,193 | ) |  | $ | 7,890 |
Weighted Average Diluted Shares (in thousands) : |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 152,519 |  |  |  | 151,625 |
Dilutive effect of common stock equivalents, excluding participating securities |  |  | — |  |  |  | 196 |
Weighted average diluted shares, excluding participating securities (in thousands) |  |  | 152,519 |  |  |  | 151,821 |
Diluted (loss)/earnings per share |  | $ | (0.06 | ) |  | $ | 0.05 |
Diluted (loss)/earnings per share presented above is calculated using the two-class method as this method results in the lowest diluted earnings per share amount for common stock. During the three months ended March 31, 2020, the Company excluded 16,178 common stock equivalents from its computation of diluted loss per share as the Company had reported a net loss for the period. The Company excluded 90,530 common stock equivalents from its computation of diluted earnings per share for the three months ended March 31, 2019 as they were determined to be anti-dilutive. The following table reconciles weighted average diluted shares as reported on the Company’s consolidated statements of operations for the three months ended March 31, 2020 and 2019 to the weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above:
|  | Three Months Ended March 31, |
Reconciliation of Weighted Average Diluted Shares (in thousands) |  | 2020 |  |  | 2019 |
Weighted average diluted shares as disclosed on the consolidated statements of operations |  |  | 152,519 | (1) |  |  | 166,811 |
Less: Participating securities: |  |  |  |  |  |  |  |
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 13) |  |  | — |  |  |  | (14,750 | )
Potentially dilutive restricted stock awards |  |  | — |  |  |  | (240 | )
Weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above |  |  | 152,519 | (1) |  |  | 151,821 |
(1) | Excludes participating securities as the Company reported a net loss for the period.

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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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