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Note 13 - Income (Loss) Per Common Share | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Earnings Per Share [Text Block] | Note 13: Income (Loss) per Common Share We are authorized to issue 500,000,000 shares of common stock, $0.25 par value per share. At December 31, 2016, there were 399,228,085 shares of our common stock issued and 3,941,210 shares issued and held in treasury, for a net of 395,286,875 shares outstanding. We calculate basic earnings per share using, as the denominator, the weighted average number of common shares outstanding during the period. Diluted earnings per share uses, as its denominator, the weighted average number of common shares outstanding during the period plus the effect of potential dilutive common shares during the period using the treasury stock method for options, warrants, and restricted stock units, and if-converted method for convertible preferred shares. Potential dilutive common shares include outstanding stock options, restricted stock unit awards, stock units, warrants and convertible preferred stock for periods in which we have reported net income. For periods in which we reported net losses, potential dilutive common shares are excluded, as their conversion and exercise would not reduce earnings per share. Under the if-converted method, preferred shares would not dilute earnings per share in any of the periods presented. A total of 157,816 shares of preferred stock were outstanding at December 31, 2016, 2015 and 2014. The following table represents net income per common share – basic and diluted (in thousands, except earnings per share):
|  | Year ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 69,547 |  |  | $ | (86,968 | ) |  | $ | 17,824 |
Preferred stock dividends |  |  | (552 | ) |  |  | (552 | ) |  |  | (552 | )
Net income (loss) applicable to common shares |  | $ | 68,995 |  |  | $ | (87,520 | ) |  | $ | 17,272 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average common shares |  |  | 386,416 |  |  |  | 373,954 |  |  |  | 353,442 |
Dilutive stock options, restricted stock units, and warrants |  |  | 2,906 |  |  |  | — |  |  |  | 3,993 |
Diluted weighted average common shares |  |  | 389,322 |  |  |  | 373,954 |  |  |  | 357,435 |
Basic earnings (loss) per common share |  | $ | 0.18 |  |  | $ | (0.23 | ) |  | $ | 0.05 |
Diluted earnings (loss) per common share |  | $ | 0.18 |  |  | $ | (0.23 | ) |  | $ | 0.05 |
There were no outstanding options for the years ended December 31, 2016 and 2015. For the year ended December 31, 2014, options to purchase 259,342 shares of our common stock were excluded from the computation of diluted earnings per share, as the exercise price of the options exceeded the average price of our stock during those periods and therefore would not affect the calculation of earnings per share. For the years ended December 31, 2016 and 2014, respectively, 4,309,440 and 4,670,170 restricted stock units that were unvested or vested during the year were included in the calculation of diluted earnings per share. For the year ended December 31, 2015, all outstanding restricted stock units and warrants were excluded from the computation of diluted loss per share, as our reported net losses for that period would cause their conversion and exercise to have no effect on the calculation of loss per share.

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