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Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2017

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

6. Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings (loss) per share (“diluted EPS”) is calculated using income (loss) available to common shareholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include common shares related to SOSARs and non-vested stock awards (collectively “stock awards”). Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an antidilutive effect. Stock awards are excluded from the calculation of diluted EPS in the event they are subject to performance conditions or are antidilutive.

The following stock awards were excluded from the calculation of diluted earnings (loss) per share:





	Three months ended March 31,
	2017			2016
Stock awards subject to performance conditions		241			312
Stock awards that were antidilutive		1,459			1,367
Total stock awards excluded from diluted earnings (loss) per share		1,700			1,679



The following table sets forth the computations of basic and diluted earnings (loss) per share:





	Three months ended March 31,
	2017			2016
Net income (loss)	$	46,120		$	(26,432)
Shares:
Weighted average number of common shares outstanding		28,750			29,893
Dilutive stock awards		100			-
Diluted weighted average number of common shares outstanding		28,850			29,893
Basic earnings (loss) per share	$	1.60		$	(0.88)
Diluted earnings (loss) per share	$	1.60		$	(0.88)



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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 50
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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