Earnings per Share

The following table shows the information used in the calculation of our basic and diluted earnings per share calculation as of June 30, 2019 and June 30, 2018.



	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2019	2018	2019	2018

Weighted average common shares outstanding for basic calculation	290,565,408	302,225,923	290,562,234	302,225,923
Add: Effect of stock options, deferred stock units and restricted stock units	8,745	5,508	8,898	2,789
Weighted average common shares outstanding for diluted calculation	290,574,153	302,231,431	290,571,132	302,228,712

Basic earnings per common share are calculated by dividing net income (loss) by the weighted average number of common shares outstanding, which includes 27,796 and 24,622 shares of participating securities in the three and six months ended June 30, 2019, respectively. Diluted earnings per share are calculated by dividing net income (loss) by the sum of the weighted average number of common shares outstanding plus the additional common shares that would have been outstanding if potentially dilutive securities had been issued.

The weighted average common shares outstanding for the diluted earnings per share calculation excludes consideration of 1,288,003 and 1,127,885 equivalent shares in the three and six months ended June 30, 2019, respectively, as these shares are anti-dilutive.