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Net Income Per Common Share (Tables) | 3 Months Ended
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Mar. 31, 2016
Earnings Per Share [Abstract] |
Calculation of Basic Net Income Per Share | The following table presents the calculation of basic net income per share for periods presented: (in thousands, except per share data):
| Three months ended March 31, 2016 |  |  | Three months ended March 31, 2015 |
Numerator for basic net income per share: |  |  |  |  |  |  |
Net income | $ | 55,550 |  |  | $ | 5,501 |
Less: Series B preferred stock dividends |  | 4,500 |  |  |  | 4,248 |
Less: undistributed earnings attributed to participating securities (basic calculation) |  | 29,506 |  |  |  | 705 |
Basic net income attributable to common stockholders | $ | 21,544 |  |  | $ | 548 |
Denominator for basic net income per share: |  |  |  |  |  |  |
Weighted-average shares outstanding |  | 206,168,035 |  |  |  | 202,343,245 |
Weighted-average unvested restricted shares outstanding |  | (4,109,658 | ) |  |  | (1,196,680 | )
Denominator for basic net income per share: |  | 202,058,377 |  |  |  | 201,146,565 |
Basic net income per share attributable to common stockholders | $ | 0.11 |  |  | $ | 0.00 |
Calculation of Diluted Net Income Per Share | The following table presents the calculation of diluted net income per share for periods presented: (in thousands, except per share data):
| Three months ended March 31, 2016 |  |  | Three months ended March 31, 2015 |
Numerator for diluted net income per share: |  |  |  |  |  |  |
Net income | $ | 55,550 |  |  | $ | 5,501 |
Less: Series B preferred stock dividends |  | 4,500 |  |  |  | 4,248 |
Less: undistributed earnings attributed to participating securities (diluted calculation) |  | 27,993 |  |  |  | 669 |
Diluted net income attributable to common stockholders | $ | 23,057 |  |  | $ | 584 |
Denominator for diluted net income per share: |  |  |  |  |  |  |
Weighted-average shares outstanding |  | 206,168,035 |  |  |  | 202,343,245 |
Weighted-average unvested restricted shares outstanding |  | (4,109,658 | ) |  |  | (1,196,680 | )
Effect of dilutive potential shares |  | 35,941,341 |  |  |  | 35,362,132 |
Denominator for diluted net income per share: |  | 237,999,718 |  |  |  | 236,508,697 |
Diluted net income per share attributable to common stockholders | $ | 0.10 |  |  | $ | 0.00 |
Schedule of Potential Dilutive Common Shares | The following table summarizes shares subject to exercise or vesting conditions as more fully described in Note 9: Capital Stock. These shares could potentially be dilutive in future periods if we realize net income attributable to common and participating stockholders and the contingent or unvested stock is converted to WMIH common stock. The cash payment of $84.4 million, which would be received upon exercise of the warrants, has not been considered as an offset to the dilutive shares under warrants outstanding below.
|  | Potential dilution to common |
|  | Minimum shares |  |  | Maximum shares |
Restricted shares subject to vesting |  |  | 3,826,826 |  |  |  | 3,826,826 |
Series A Preferred Stock |  |  | 10,065,629 |  |  |  | 10,065,629 |
Warrants outstanding |  |  | 61,400,000 |  |  |  | 61,400,000 |
Series B Preferred Stock |  |  | 266,666,667 |  |  |  | 342,857,143 |
Potential dilutive shares if converted to common |  |  | 341,959,122 |  |  |  | 418,149,598 |

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