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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted 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

Schedule of Weighted Average Number of Shares

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  Operations			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

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- References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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