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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Numerator:
 

 
 

 
 

 
 

Net income (loss)
$
60,049

 
$
(60,466
)
 
$
145,004

 
$
78,786

Denominator (shares in 000's):
 

 
 

 
 

 
 

Basic weighted average shares outstanding
66,477

 
73,754

 
68,081

 
74,999

Effect of dilutive securities - Stock options and awards
705

 
—

 
703

 
765

Diluted weighted average shares outstanding
67,182

 
73,754

 
68,784

 
75,764

Basic earnings (loss) per share
$
0.90

 
$
(0.82
)
 
$
2.13

 
$
1.05

Diluted earnings (loss) per share
$
0.89

 
$
(0.82
)
 
$
2.11

 
$
1.04


For the three months ended September 30, 2016 and 2015, common shares subject to equity-based awards of 803,741 and 1,279,664, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive. For the nine months ended September 30, 2016 and 2015, common shares subject to equity-based awards of 807,763 and 508,070, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.