Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2020

The table below reconciles the Company’s loss per share (in thousands, except for per share data):



	Three Months Ended March 31,
	2020			2019
Net loss	$	(58,205	)	$	(36,620	)
Weighted average number of shares of common stock outstanding	38,801			37,788
Add: Net effect of dilutive stock options and unvested restricted stock (1)(2)(3)	—			—
Weighted average number of dilutive shares of common stock outstanding	38,801			37,788
Loss per common share:
Basic loss per common share	$	(1.50	)	$	(0.97	)
Diluted loss per common share	$	(1.50	)	$	(0.97	)


(1)	Due to a net loss, the Company excluded from the calculation of loss per share the effect of equity awards representing the rights to acquire 6,186 shares and 404 shares of common stock for the three months ended March 31, 2020 and 2019, respectively.

(2)

For the three months ended March 31, 2019, the 2019 convertible senior notes issued in August 2012 were not dilutive, as the average price of the Company’s stock was less than the effective conversion price of such notes. In September 2019, the Company repaid the remaining balance of the 2019 convertible senior notes in full upon their maturity. See Note 7 for further discussion. It was the Company's stated intention to redeem the principal amount of its 2019 convertible senior notes in cash and the Company used the treasury method for determining potential dilution in the diluted earnings per share computation.


(3)	Dilutive unvested restricted stock units are expected to fluctuate from quarter to quarter depending on the Company’s performance compared to a predetermined set of performance criteria. See Note 8 to these financial statements for further information regarding certain of the Company’s restricted stock grants.

HORNBECK OFFSHORE SERVICES INC /LA 10-Q