Earnings per Share and Equity Transactions

The following summarizes the calculation of basic and diluted earnings per share:



	Three months ended September 30,				Nine months ended September 30,
	2018		2017		2018		2017
Numerator:
Net income from continuing operations	$	8,947	$	12,244	$	66,342	$	49,609
Net income from discontinued operations	—		9,721		—		8,372
Net income	$	8,947	$	21,965	$	66,342	$	57,981

Denominator:
Weighted average shares outstanding, basic and diluted	768,385,770		773,517,492		772,341,263		773,405,710

Net income from continuing operations allocated to common stockholders per share	$	0.01	$	0.02	$	0.09	$	0.06
Net income from discontinued operations allocated to common stockholders per share	$	—	$	0.01	$	—	$	0.01
Net income per common share, basic and diluted	$	0.01	$	0.03	$	0.09	$	0.07

On August 15, 2018, the Company announced and commenced a modified "Dutch Auction" tender offer (the "Offer") to purchase for cash up to $75.0 million in value of shares of the Company's common stock, par value $0.001 per share (the "Shares"), subject to the Company's ability to increase the number of Shares accepted for payment in the Offer by up to 2% of the Company's outstanding Shares, without amending or extending the Offer in accordance with the rules promulgated by the SEC. The Company exercised that option and increased the Offer by 10,706,774 shares, or $22.5 million, to avoid any proration for the stockholders tendering shares. The Offer expired on September 13, 2018.

As a result of the Offer, the Company has accepted for purchase 46,503,539 shares of its common stock at a purchase price of $2.10 per share, for an aggregate cost of approximately $99.2 million, including fees and expenses, relating to the Offer as of September 30, 2018. Aggregate costs of $99.2 million have been classified as reductions to common stock and additional paid-in capital on the condensed consolidated statement of equity for the nine months ended September 30, 2018. The 46,503,539 shares accepted for purchase in the Offer represented approximately 6.0% of the shares of common stock outstanding at the time of the Offer.