v2.4.1.9
Earnings Per Share and Capital Structure (Text Block)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share (EPS):

 
Year Ended December 31,
 
2014
 
2013
 
2012
 
(in thousands, except per share data)
Net income (loss) available to common shareholders
$
(22,920
)
 
$
(146,809
)
 
$
108,275

 
 
 
 
 
 
Weighted average common shares outstanding - Basic
39,184

 
39,281

 
39,625

Dilutive effect of stock-based awards
—

 
—

 
309

Weighted average common shares outstanding - Diluted
39,184

 
39,281

 
39,934

Earnings (loss) per common share - Basic
$
(0.58
)
 
$
(3.74
)
 
$
2.73

Earnings (loss) per common share - Diluted
$
(0.58
)
 
$
(3.74
)
 
$
2.71



Stock-based Awards
For stock-based awards, the dilutive effect is calculated using the treasury stock method. Under this method, the dilutive effect is computed as if the awards were exercised at the beginning of the period (or at time of issuance, if later) and assumes the related proceeds were used to repurchase common stock at the average market price during the period. Related proceeds include the amount the employee must pay upon exercise, future compensation cost associated with the stock award, and the amount of excess tax benefits, if any. As a result of our net losses for 2014 and 2013, there was no dilutive effect to the weighted average common shares outstanding for these years. Approximately 1.4 million, 1.4 million, and 1.1 million stock-based awards were excluded from the calculation of diluted EPS for the years ended December 31, 2014, 2013, and 2012, respectively, because they were anti-dilutive. These stock-based awards could be dilutive in future periods.