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Earnings per Share | 6 Months Ended
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Jun. 30, 2020
Earnings per Share |
Earnings per Share | 13.Earnings (Loss) per Share ​ Basic earnings (loss) per share of common stock is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share of common stock is computed by dividing net income (loss) by the weighted average number of common shares, using the two-class method. As the Company has granted RSUs that both participate in dividend equivalents and do not participate in dividend equivalents, the Company has calculated earnings (loss) per share pursuant to the two-class method, which is an earnings allocation formula that determines earnings (loss) per share for common stock and participating securities according to dividends declared and participation rights in undistributed losses. Under this method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends. Diluted net earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stockholders by the weighted average number of common stock and dilutive common stock outstanding during the period. Potential common shares in the diluted net income (loss) per share computation are excluded to the extent that they would be anti-dilutive. Weighted average of potentially dilutive non-participating RSU’s were 21,910 and 26,823 in the three and six months ended June 30, 2020, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30, | ​ | June 30, | ​ | June 30,
​ | ​ | 2020 | ​ | 2019 | ​ | 2020 | ​ | 2019
Basic loss per common share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) | ​ | $ | (103,859) | ​ | $ | 25,474 | ​ | $ | (113,945) | ​ | $ | 25,177
Less income allocated to participating securities | ​ | ​ | - | ​ | ​ | 320 | ​ | ​ | - | ​ | ​ | 328
Net income (loss) allocated to common shareholders | ​ | $ | (103,859) | ​ | $ | 25,154 | ​ | $ | (113,945) | ​ | $ | 24,849
Weighted average common shares outstanding | ​ | ​ | 22,857,457 | ​ | ​ | 22,795,412 | ​ | ​ | 22,835,356 | ​ | ​ | 22,762,431
​ | ​ | $ | (4.55) | ​ | $ | 1.10 | ​ | $ | (5.00) | ​ | $ | 1.09
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss per common share assuming dilution | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) | ​ | $ | (103,859) | ​ | $ | 25,474 | ​ | $ | (113,945) | ​ | $ | 25,177
Less income allocated to participating securities | ​ | ​ | - | ​ | ​ | 320 | ​ | ​ | - | ​ | ​ | 328
Net income (loss) allocated to common shareholders | ​ | $ | (103,859) | ​ | $ | 25,154 | ​ | $ | (113,945) | ​ | $ | 24,849
Weighted average common shares outstanding | ​ | ​ | 22,857,457 | ​ | ​ | 22,795,412 | ​ | ​ | 22,835,356 | ​ | ​ | 22,762,431
Incremental shares applicable to non-participating RSUs | ​ | ​ | - | ​ | ​ | 34,733 | ​ | ​ | - | ​ | ​ | 32,975
Weighted average common shares assuming dilution | ​ | ​ | 22,857,457 | ​ | ​ | 22,830,145 | ​ | ​ | 22,835,356 | ​ | ​ | 22,795,406
​ | ​ | $ | (4.55) | ​ | $ | 1.10 | ​ | $ | (5.00) | ​ | $ | 1.08
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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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