Annual report pursuant to Section 13 and 15(d)

Earnings (Loss) Per Share (EPS) (Tables)

v3.19.3.a.u2
Earnings (Loss) Per Share (EPS) (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Summary of Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS)
The following table represents the computation of earnings per share:
 
 
Successor
 
 
Predecessor
 
 
Nine Months Ended December 31,
 
 
Three Months Ended March 31,
 
Year Ended December 31,
Dollars in thousands, except per share amounts
 
2019
 
 
2019
 
2018
Basic EPS
 
 
 
 
 
 
 
Numerator
 
 
 
 
 
 
 
Net income (loss) available to common stockholders (numerator)
 
$
6,509

 
 
$
(90,248
)
 
$
(168,416
)
Denominator
 
 
 
 
 
 
 
Weighted average shares outstanding
 
15,044,919

 
 
9,368,322

 
9,311,722

Number of shares used for basic EPS computation
 
15,044,919

 
 
9,368,322

 
9,311,722

Basic earnings (loss) per common share
 
$
0.43

 
 
$
(9.63
)
 
$
(18.09
)
 
 
 
 
 
 
 
 
 
 
Successor
 
 
Predecessor
 
 
Nine Months Ended December 31,
 
 
Three Months Ended March 31,
 
Year Ended December 31,
Dollars in thousands, except per share amounts
 
2019
 
 
2019
 
2018
Diluted EPS
 
 
 
 
 
 
 
Numerator
 
 
 
 
 
 
 
Net income (loss) available to common stockholders (numerator)
 
$
6,509

 
 
$
(90,248
)
 
$
(168,416
)
Denominator
 
 
 
 
 
 
 
Number of shares used for basic EPS computation
 
15,044,919

 
 
9,368,322

 
9,311,722

Successor unvested restricted stock units
 
15,446

 
 
—

 
—

Successor unvested stock options
 
—

 
 
—

 
—

Successor warrants
 
—

 
 
—

 
—

Predecessor preferred stock
 
—

 
 
—

 
—

Number of shares used for diluted EPS computation
 
15,060,365

 
 
9,368,322

 
9,311,722

Diluted earnings (loss) per common share
 
$
0.43

 
 
$
(9.63
)
 
$
(18.09
)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following shares were excluded from the computation of diluted EPS as such shares would be anti-dilutive:
 
Successor
 
 
Predecessor
 
Nine Months Ended December 31,
 
 
Three Months Ended March 31,
 
Year Ended December 31,
 
2019
 
 
2019
 
2018
Successor unvested restricted stock units
283,494

 
 
—

 
—

Successor outstanding stock options
298,150

 
 
—

 
—

Successor warrants
2,580,182

 
 
—

 
—

Predecessor preferred stock
—

 
 
1,587,300

 
1,587,300