Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2017

Basic earnings (loss) per share is computed by dividing the earnings (loss) attributable to common stockholders by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings (loss) per share includes the potential dilutive impact of non-vested restricted shares, PSUs outstanding, and contingently issuable shares of convertible notes during the periods presented, unless their effect is anti-dilutive. There are no adjustments made to the income (loss) available to common stockholders in the calculation of diluted earnings (loss) per share.

The following is a calculation of the basic and diluted weighted average shares outstanding for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
	2017	2016
	(In thousands)
Basic weighted average common shares outstanding	233,068	162,922
Dilution effect of stock awards at end of period	3,238	—
Dilution effect of senior convertible notes at end of period⁽¹⁾	1,594	—
Diluted weighted average common shares outstanding	237,900	162,922

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(1)	The Company issued its Senior Convertible Notes in September 2016 (see Note 7 – Long-Term Debt).

The following is a calculation of weighted average common shares excluded from diluted earnings (loss) per share due to the anti-dilutive effect:



	Three Months Ended March 31,
	2017	2016
	(In thousands)
Anti-dilutive effect of stock awards excluded from diluted earnings (loss) per share due to net loss	—	4,668
Anti-dilutive effect of stock awards excluded from diluted earnings (loss) per share calculated using the treasury stock method	2,884	—