13. EARNINGS PER COMMON SHARE

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Basic:
Net income (loss)	$	(63,284)	$	(81,837)	$	(1,040,687)	$	(100,709)
Weighted average basic number of common shares outstanding		159,143		158,011		158,916		156,628
Basic net income (loss) per share of common stock	$	(0.40)	$	(0.52)	$	(6.55)	$	(0.64)
Diluted:
Net income (loss)	$	(63,284)	$	(81,837)	$	(1,040,687)	$	(100,709)
Weighted average basic number of common shares outstanding		159,143		158,011		158,916		156,628
Common stock equivalent shares representing shares issuable upon:
Exercise of stock options		Anti-dilutive		Anti-dilutive		Anti-dilutive		Anti-dilutive
Exercise of warrants		Anti-dilutive		Anti-dilutive		Anti-dilutive		Anti-dilutive
Vesting of restricted shares		Anti-dilutive		Anti-dilutive		Anti-dilutive		Anti-dilutive
Weighted average diluted number of common shares outstanding		159,143		158,011		158,916		156,628
Diluted net income (loss) per share of common stock	$	(0.40)	$	(0.52)	$	(6.55)	$	(0.64)

Common stock equivalents, including stock options, restricted shares and warrants totaling 11.8 million and 14.1 million shares for the three and nine months ended September 30, 2019, respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net losses.

Common stock equivalents, including stock options, restricted shares and warrants totaling 14.9 million and 14.3 million shares for the three and nine months ended September 30, 2018, respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net losses.

On the Effective Date, all shares of the predecessor company were cancelled, see Note 15, “Subsequent Events” for further details related to the impact of emergence from chapter 11 bankruptcy on the Company’s common stock outstanding.