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LOSS PER SHARE (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Components of Basic and Diluted Loss Per Share

The components of basic and diluted loss per share are as follows:

 

 

 

Successor

 

 

 

Predecessor

 

 

 

 

 

 

 

Period from

 

 

 

Period from

 

 

 

Three Months

 

 

August 1, 2017

 

 

 

July 1, 2017

 

 

 

Ended

 

 

through

 

 

 

through

 

(In thousands, except share and per share data)

 

September 30, 2018

 

 

September 30, 2017

 

 

 

July 31, 2017

 

Net loss available to common shareholders

 

$

(30,896

)

 

 

(15,693

)

 

 

 

(1,122,475

)

Weighted average outstanding shares of common stock, basic (A)

 

 

26,614,507

 

 

 

19,389,031

 

 

 

 

47,121,407

 

Dilutive effect of options, warrants and restricted stock awards and units

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock and equivalents

 

 

26,614,507

 

 

 

19,389,031

 

 

 

 

47,121,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share, basic (B)

 

$

(1.16

)

 

 

(0.81

)

 

 

 

(23.82

)

Loss per share, diluted (C)

 

$

(1.16

)

 

 

(0.81

)

 

 

 

(23.82

)

Additional information:

 

 

 

 

 

 

 

 

 

 

 

 

 

Incremental "in-the-money" options, warrants and restricted stock awards and units at the end of the period (D)

 

 

3,476,437

 

 

 

15,513,573

 

 

 

 

183

 

 

 

 

Successor

 

 

 

Predecessor

 

 

 

 

 

 

 

Period from

 

 

 

Period from

 

 

 

Nine Months

 

 

August 1, 2017

 

 

 

January 1, 2017

 

 

 

Ended

 

 

through

 

 

 

through

 

(In thousands, except share and per share data)

 

September 30, 2018

 

 

September 30, 2017

 

 

 

July 31, 2017

 

Net loss available to common shareholders

 

$

(81,008

)

 

 

(15,693

)

 

 

 

(1,741,763

)

Weighted average outstanding shares of common stock, basic (A)

 

 

25,073,284

 

 

 

19,389,031

 

 

 

 

47,104,117

 

Dilutive effect of options, warrants and restricted stock awards and units

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock and equivalents

 

 

25,073,284

 

 

 

19,389,031

 

 

 

 

47,104,117

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share, basic (B)

 

$

(3.23

)

 

 

(0.81

)

 

 

 

(36.98

)

Loss per share, diluted (C)

 

$

(3.23

)

 

 

(0.81

)

 

 

 

(36.98

)

Additional information:

 

 

 

 

 

 

 

 

 

 

 

 

 

Incremental "in-the-money" options, warrants and restricted stock awards and units at the end of the period (D)

 

 

5,143,206

 

 

 

15,513,573

 

 

 

 

183

 

 

 

 

(A)

Common shares and New Creditor Warrants and the sum of common shares and New Creditor Warrants outstanding at September 30, 2018, were 26,815,991, 3,512,416 and 30,328,407, respectively.

 

 

(B)

The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”.

 

 

(C)

The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”.

 

 

(D)

For the nine months ended September 30, 2018, the company also had 5,062,089 shares of “out-of- the-money” warrants outstanding at the end of the period.