Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2015

Calculation of Basic Net (Loss) Income Per Share

The following table presents the calculation of basic net (loss) income per share for periods presented:

(in thousands, except per share data):

	Three Months ended June 30, 2015			Three Months ended June 30, 2014			Six Months ended June 30, 2015			Six Months ended June 30, 2014
Numerator for basic and diluted net (loss) income per share:
Net (loss) income	$	(73,483	)	$	17,322		$	(67,982	)	$	13,942
Preferred deemed dividend		—			—			—			(9,455	)
Series B preferred stock dividends		(4,500	)		—			(8,748	)		—
Net (loss) income attributable to common shareholders	$	(77,983	)	$	17,322		$	(76,730	)	$	4,487
Denominator for basic net (loss) income per share:
Weighted-average shares outstanding		204,368,982			202,164,035			203,361,710			202,071,761
Weighted-average unvested restricted shares outstanding		(2,481,891	)		(1,164,554	)		(1,842,836	)		(1,333,534	)
Denominator for basic net (loss) income per share:		201,887,091			200,999,481			201,518,874			200,738,227
Basic net (loss) income per share attributable to common shareholders	$	(0.39	)	$	0.09		$	(0.38	)	$	0.02

Calculation of Diluted Net (Loss) Income Per Share

The following table presents the calculation of diluted net (loss) income per share for periods presented:

(in thousands, except per share data):

	Three Months ended June 30, 2015			Three Months ended June 30, 2014			Six Months ended June 30, 2015			Six Months ended June 30, 2014
Numerator for basic and diluted net (loss) income per share:
Net (loss) income	$	(73,483	)	$	17,322		$	(67,982	)	$	13,942
Preferred deemed dividend		—			—			—			(9,455	)
Series B preferred stock dividends		(4,500	)		—			(8,748	)		—
Net (loss) income attributable to common shareholders	$	(77,983	)	$	17,322		$	(76,730	)	$	4,487
Denominator for diluted net (loss) income per share:
Weighted-average shares outstanding		204,368,982			202,164,035			203,361,710			202,071,761
Weighted-average unvested restricted shares outstanding		(2,481,891	)		(1,164,554	)		(1,842,836	)		(1,333,534	)
Effect of dilutive potential shares *		—			42,587,735			—			35,224,877
Denominator for diluted net (loss) income per share:		201,887,091			243,587,216			201,518,874			235,963,104
Diluted net (loss) income per share attributable to common shareholders	$	(0.39	)	$	0.07		$	(0.38	)	$	0.02

*There were no dilutive effects from any equity instruments for periods presented which did not have net income, therefore diluted net (loss) income per share was the same as basic net (loss) income for periods presented which reflect a net loss.