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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2020
EARNINGS PER SHARE |
EARNINGS PER SHARE | 15. 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
|  |  |  |  | Period from |  |  | Period from |  |  |
|  |  |  | October 2, 2019 |  |  | January 1, 2019 |  |
|  | Year Ended |  | through |  |  | through |  | Year Ended
|  | December 31, 2020 |  | December 31, 2019 |  |  | October 1, 2019 |  | December 31, 2018
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common stockholders |  | $ | (229,707) |  | $ | (10,460) |  |  | $ | (1,156,053) |  | $ | 45,959
Weighted average basic number of common shares outstanding |  |  | 16,204 |  |  | 16,204 |  |  |  | 158,925 |  |  | 157,011
Basic net income (loss) per common share |  | $ | (14.18) |  | $ | (0.65) |  |  | $ | (7.27) |  | $ | 0.29
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common stockholders |  | $ | (229,707) |  | $ | (10,460) |  |  | $ | (1,156,053) |  | $ | 45,959
Weighted average basic number of common shares outstanding |  |  | 16,204 |  |  | 16,204 |  |  |  | 158,925 |  |  | 157,011
Common stock equivalent shares representing shares issuable upon: |  |  |  |  |  |  |  |  |  |  |  |  |
Exercise of Predecessor stock options |  |  | — |  |  | — |  |  |  | Anti-dilutive |  |  | Anti-dilutive
Exercise of Predecessor warrants |  |  | — |  |  | — |  |  |  | Anti-dilutive |  |  | Anti-dilutive
Vesting of Predecessor restricted stock |  |  | — |  |  | — |  |  |  | Anti-dilutive |  |  | 284
Exercise of Successor Series A Warrants |  |  | Anti-dilutive |  |  | Anti-dilutive |  |  |  | — |  |  | —
Exercise of Successor Series B Warrants |  |  | Anti-dilutive |  |  | Anti-dilutive |  |  |  | — |  |  | —
Exercise of Successor Series C Warrants |  |  | Anti-dilutive |  |  | Anti-dilutive |  |  |  | — |  |  | —
Exercise of Successor stock options |  |  | Anti-dilutive |  |  | — |  |  |  | — |  |  | —
Vesting of Successor restricted stock units |  |  | Anti-dilutive |  |  | — |  |  |  | — |  |  | —
Weighted average diluted number of common shares outstanding |  |  | 16,204 |  |  | 16,204 |  |  |  | 158,925 |  |  | 157,295
Diluted net income (loss) per common share |  | $ | (14.18) |  | $ | (0.65) |  |  | $ | (7.27) |  | $ | 0.29
Common stock equivalents, including warrants, stock options and restricted stock units, if considered issuable, totaling 7.7 million shares for the year ended December 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 due to the net loss. Common stock equivalents, including warrants, totaling 6.9 million shares for the period of October 2, 2019 through December 31, 2019 (Successor) 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. Common stock equivalents, including stock options, restricted shares and warrants totaling 14.1 million shares for the period of January 1, 2019 through October 1, 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. Common stock equivalents, including stock options, restricted shares and warrants, totaling 13.1 million shares for the year ended December 31, 2018 (Predecessor) were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.

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