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Earnings (loss) per share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings (loss) per share
Earnings (loss) per share
Basic earnings (loss) per share ("EPS") amounts are calculated by dividing net income (loss) allocated to common stockholders by the weighted average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive common shares outstanding.
Our Series A Convertible Preferred Stock has similar characteristics to a "participating security" as described by ASC 260 "Earnings Per Share" and we calculate the amount of net income (loss) allocated to common stockholders and basic EPS using the Two-Class Method earnings allocation formula, allocating undistributed income to our preferred stockholder consistent with their participation rights, and diluted EPS using the If-Converted Method when applicable.
Our Series A Convertible Preferred Stock is a non-cumulative perpetual participating convertible preferred stock with no set dividend preferences.  In periods where we report net losses, we do not allocate these losses to the convertible preferred stock for the computation of basic or diluted EPS.
The following table shows the basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2015 and 2014:
 
 
 
 
 
 
 
 
 
For the three months ended September 30,
 
2015
 
2014
 
Loss
Shares (000)
Per-Share
 
Income
Shares (000)
Per-Share
Net income (loss)
$
(56,112
)
 
 
 
$
50,405

 
 
Amount allocated to common stockholders
100.00
%
 
 
 
91.81
%
 
 
Basic EPS:
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders
(56,112
)
86,907

$
(0.65
)
 
46,277

88,827

$
0.52

Effect of Dilutive Securities:
 
 
 
 
 
 
 
Share-based compensation plans
—

—

 
 
—

705

 
Diluted EPS:
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders with assumed conversion
$
(56,112
)
86,907

$
(0.65
)
 
$
46,277

89,532

$
0.52

 
 
 
 
 
 
 
 
 
For the nine months ended September 30,
 
2015
 
2014
 
Loss
Shares (000)
Per-Share
 
Income
Shares (000)
Per-Share
Net income (loss)
$
(16,230
)
 
 
 
$
50,645

 
 
Amount allocated to common stockholders
100.00
%
 
 
 
91.79
%
 
 
Basic EPS:
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders
(16,230
)
87,524

$
(0.19
)
 
46,487

88,777

$
0.52

Effect of Dilutive Securities:
 
 
 
 
 
 
 
Share-based compensation plans
—

—

 
 
—

595

 
Diluted EPS:
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders with assumed conversion
$
(16,230
)
87,524

$
(0.19
)
 
$
46,487

89,372

$
0.52



Securities excluded from the calculation of diluted EPS:
Three months ended September 30,
Nine months ended September 30,
 
2015
2014
2015
2014
 
 
 
 
 
Stock options (1)
317,266

338,433

327,599

344,433

Service-based share awards (1)
646,128

—

599,001

—

(1)
In periods when we report a net loss, all share awards are excluded from the calculation of diluted weighted average shares outstanding because of their antidilutive effect on earnings (loss) per share. In periods when we report net income, certain option awards may be excluded from the calculation of diluted EPS if the exercise price of the option award was greater than the average market price of the underlying common stock.