Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Computation of Basic and Diluted Income (Loss) Per Share

The following table presents the computation of the Company’s basic and diluted income (loss) per share were as follows (in thousands, except for the per share amounts):

	Year Ended December 31,
	2020			2019		2018⁽¹⁾
Net income (loss)	$	(465,605	)	$	58,729	$	221,540
Weighted average common shares outstanding — basic		67,664			54,185		46,058

Dilutive effect of securities		—			228		3
Weighted average common shares outstanding — diluted		67,664			54,413		46,061
Net income (loss) per common share:
Basic	$	(6.88	)	$	1.08	$	4.81
Diluted	$	(6.88	)	$	1.08	$	4.81
Anti-dilutive potentially issuable securities excluded from diluted common shares⁽²⁾		5,019			4,220		3,538

(1)

For the periods prior to May 10, 2018, the Company retrospectively adjusted the weighted average shares used in determining earnings per share to reflect the number of shares Talos Energy LLC received in the Stone Combination.

(2)

Includes 3.5 million warrants that expired on February 28, 2021.