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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2020
EARNINGS PER SHARE |
EARNINGS PER SHARE | 14. EARNINGS PER SHARE On October 8, 2019, upon emergence from chapter 11 bankruptcy, the Predecessor Company’s equity was cancelled and new equity was issued. Refer to Note 2, “Reorganization,” for further details. The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):
|  | Successor |  |  | Predecessor |
|  | Three Months |  |  | Three Months |
|  | Ended |  |  | Ended |
|  | March 31, 2020 |  |  | March 31, 2019 |
Basic: |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 114,491 |  |  | $ | (336,559) |
Weighted average basic number of common shares outstanding |  |  | 16,204 |  |  |  | 158,549 |
Basic net income (loss) per share of common stock |  | $ | 7.07 |  |  | $ | (2.12) |
Diluted: |  |  |  |  |  |  |  |
Net income (loss) |  |  | 114,491 |  |  |  | (336,559) |
Weighted average basic number of common shares outstanding |  |  | 16,204 |  |  |  | 158,549 |
Common stock equivalent shares representing shares issuable upon: |  |  |  |  |  |  |  |
Exercise of Predecessor stock options |  |  | — |  |  |  | Anti-dilutive |
Exercise of Predecessor warrants |  |  | — |  |  |  | Anti-dilutive |
Vesting of Predecessor restricted shares |  |  | — |  |  |  | Anti-dilutive |
Exercise of Successor Series A Warrants |  |  | Anti-dilutive |  |  |  | — |
Exercise of Successor Series B Warrants |  |  | Anti-dilutive |  |  |  | — |
Exercise of Successor Series C Warrants |  |  | Anti-dilutive |  |  |  | — |
Exercise of Successor stock options |  |  | Anti-dilutive |  |  |  | — |
Vesting of Successor restricted share units |  |  | Anti-dilutive |  |  |  | — |
Weighted average diluted number of common shares outstanding |  |  | 16,204 |  |  |  | 158,549 |
Diluted net income (loss) per share of common stock |  | $ | 7.07 |  |  | $ | (2.12) |
Common stock equivalents, including warrants, options and restricted stock units, totaling 7.3 million shares for the three months ended March 31, 2020 (Successor) were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive. Common stock equivalents, including stock options, restricted shares and warrants, totaling 14.9 million shares for the three months ended March 31, 2019 (Predecessor) 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 loss.

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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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