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Earnings Per Share | 12 Months Ended
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Dec. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | 23. Earnings Per Share The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:
|  | Years Ended December 31, |
Basic (Loss)/Earnings per Share |  | 2020 |  |  | 2019 |  |  | 2018 |
Net (loss)/income |  | $ | (35,655 | ) |  | $ | (10,425 | ) |  | $ | 36,633 |
Less: Income distributed to participating securities |  |  | (2,216 | ) |  |  | (2,163 | ) |  |  | (1,595 | )
Less: Undistributed income allocable to participating securities |  |  | — |  |  |  | — |  |  |  | (1,409 | )
Net (loss)/income available to common stockholders – Basic EPS |  | $ | (37,871 | ) |  | $ | (12,588 | ) |  | $ | 33,629 |
Weighted average common shares (in thousands) |  |  | 148,682 |  |  |  | 151,823 |  |  |  | 146,645 |
Basic (loss)/earnings per share |  | $ | (0.25 | ) |  | $ | (0.08) |  |  | $ | 0.23 |
|  | Years Ended December 31, |
Diluted (Loss)/Earnings per Share |  | 2020 |  |  | 2019 |  |  | 2018 |
Net (loss)/income available to common stockholders |  | $ | (37,871 | ) |  | $ | (12,588 | ) |  | $ | 33,629 |
Add back: Undistributed income allocable to participating securities |  |  | — |  |  |  | — |  |  |  | 1,409 |
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive |  |  | — |  |  |  | — |  |  |  | (1,403 | )
Net (loss)/income available to common stockholders – Diluted EPS |  | $ | (37,871 | ) |  | $ | (12,588 | ) |  | $ | 33,635 |
Weighted Average Diluted Shares (in thousands) : |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 148,682 |  |  |  | 151,823 |  |  |  | 146,645 |
Dilutive effect of common stock equivalents, excluding participating securities |  |  | — |  |  |  | — |  |  |  | 645 |
Weighted average diluted shares, excluding participating securities (in thousands) |  |  | 148,682 |  |  |  | 151,823 |  |  |  | 147,290 |
Diluted (loss)/earnings per share |  | $ | (0.25 | ) |  | $ | (0.08 | ) |  | $ | 0.23 |
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 years ended December 31, 2020 and 2019, there were no dilutive common stock equivalents as the Company reported a net loss for the period. Total antidilutive common stock equivalents were 7,886 during the year ended December 31, 2018. The following table reconciles weighted average diluted shares as reported on the Company’s Consolidated Statements of Operations for the years ended December 31, 2020, 2019 and 2018, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above:
|  | Years Ended December 31, |
Reconciliation of Weighted Average Diluted Shares (in thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Weighted average diluted shares as disclosed on the Consolidated Statements of O perations |  |  | 148,682 | (1) |  |  | 151,823 | (1) |  |  | 158,415 |
Less: Participating securities: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 15) |  |  | — |  |  |  | — |  |  |  | (10,709 | )
Potentially dilutive restricted stock awards |  |  | — |  |  |  | — |  |  |  | (416 | )
Weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above |  |  | 148,682 | (1) |  |  | 151,823 | (1) |  |  | 147,290 |
(1) | Excludes 15,122 and 15,002 participating securities for the years ended December 31, 2020 and 2019, respectively, as the Company reported a net loss for those periods. Also excludes 6 and 152 potentially dilutive common stock equivalents for the years ended December 31, 2020 and 2019, respectively, as the Company reported a net loss for those periods (shares herein are reported in thousands).

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