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Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings (loss) per share (“EPS”) is computed based on the weighted average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution resulting from exercises of stock options, vesting of performance share units, vesting of restricted stock, vesting of restricted stock units, and conversion of preferred stock. The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted EPS computations for the periods presented (in thousands, except per share data):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Numerator for EPS: |  |  |  |  |  |  |
Net income (loss) | $ | (3,169) |  |  | $ | 20,146 |  |  | $ | 36,780 |  |  | $ | 97,587 |
Less: Preferred stock dividends | (3) |  |  | (3) |  |  | (8) |  |  | (8) |
Income (loss) available to common stockholders | $ | (3,172) |  |  | $ | 20,143 |  |  | $ | 36,772 |  |  | $ | 97,579 |
Denominator for EPS: |  |  |  |  |  |  |
Weighted average common shares outstanding | 31,659 |  |  | 33,649 |  |  | 32,116 |  |  | 34,230 |
Plus: Assumed conversion of share-based compensation (1) | — |  |  | 256 |  |  | 61 |  |  | 310 |
Assumed conversion of preferred stock | — |  |  | 25 |  |  | 25 |  |  | 25 |
Weighted average diluted common shares outstanding | 31,659 |  |  | 33,930 |  |  | 32,202 |  |  | 34,565 |
Basic earnings (loss) per common share | $ | (0.10) |  |  | $ | 0.60 |  |  | $ | 1.14 |  |  | $ | 2.85 |
Diluted earnings (loss) per common share | $ | (0.10) |  |  | $ | 0.59 |  |  | $ | 1.14 |  |  | $ | 2.82 |
(1) |  | Represents the dilutive effect of unexercised stock options, unvested performance share units, unvested restricted stock units and unvested restricted stock.

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