Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2021

Computation of Net Income Per Share, Basic and Diluted

The following table sets forth the computation of net income (loss) per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Basic:
Net income (loss)	$	95,027	$	(93,103)	$	101,896	$	(126,113)
Less income allocated to participating securities	(1,285)		—		(1,451)		(236)
Net income (loss) attributable to common stock	$	93,742	$	(93,103)	$	100,445	$	(126,349)
Earnings (loss) per share, basic	$	5.49	$	(5.85)	$	6.04	$	(7.93)
Weighted-average shares outstanding	17,064		15,902		16,618		15,927
Diluted:
Net income (loss)	$	95,027	$	(93,103)	$	101,896	$	(126,113)
Less income allocated to participating securities	(1,284)		—		(1,449)		(236)
Net income (loss) attributable to common stock	$	93,743	$	(93,103)	$	100,447	$	(126,349)
Earnings (loss) per share, diluted	$	5.49	$	(5.85)	$	6.04	$	(7.93)
Weighted-average shares outstanding	17,064		15,902		16,618		15,927
Dilutive effect of stock options and restricted stock	123		—		128		—
Adjusted weighted-average shares outstanding under treasury stock method	17,187		15,902		16,746		15,927
Participating securities excluded under two-class method	(114)		—		(114)		—
Adjusted weighted-average shares outstanding under two-class method	17,073		15,902		16,632		15,927