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Earnings per share
 9 Months Ended 12 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Earnings Per Share [Abstract]    
Earnings per share
Earnings (loss) per share
The following sets forth the computation of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2014 and 2013:
 

 
For the three months ended
 
For the nine months ended
 

 
September 30, 2014
 
September 30, 2013
 
September 30, 2014
 
September 30, 2013
Weighted-average number of common shares outstanding:
 

 

 

 

 
Basic number of common shares outstanding
 
103,295,920

 
89,620,394

 
103,275,204

 
82,630,430

 
Dilutive effect of options
 
—

 
294,434

 
1,494,711

 
—

 
Dilutive effect of warrants
 
—

 
1,000,977

 
1,684,860

 
823,405

 
Diluted number of common shares outstanding
 
103,295,920

 
90,915,805

 
106,454,775

 
83,453,835

 

 

 

 

 

Basic net income (loss) per common share:
 

 

 

 

 
Net income (loss)
 
$
(5,997
)
 
$
46,570

 
$
65,074

 
$
147,223

 
Net income allocated to participating shares
 
—

 
(322
)
 
(420
)
 
(1,099
)
 
Net income (loss) available to common shareholders
 
$
(5,997
)
 
$
46,248

 
$
64,654

 
$
146,124

 
Basic net income (loss) per common share
 
$
(0.06
)
 
$
0.52

 
$
0.63

 
$
1.77

 Diluted net income (loss) per common share:
 

 

 

 

 
Net income (Loss)
 
$
(5,997
)
 
$
46,570

 
$
65,074

 
$
147,223

 
Net income allocated to participating securities
 
—

 
(318
)
 
(408
)
 
(1,089
)
 
Net income (loss) available to common shareholders
 
$
(5,997
)
 
$
46,252

 
$
64,666

 
$
146,134

 
Diluted net income (loss) per common share
 
$
(0.06
)
 
$
0.51

 
$
0.61

 
$
1.75



For the three months ended September 30, 2014, options of 11,327,302 and warrants of 4,651,163 were excluded from the computation of diluted loss per share. As a result of the net loss in the three months ended September 30, 2014, no allocation of the net loss has been made to participating shares in the calculation of diluted net loss per common share. For the three months ended September 30, 2013, anti-dilutive options of 3,887,829 were excluded from the computation of diluted earnings per share.

For the nine months ended September 30, 2014 and 2013, anti-dilutive options of 4,553,159 and 3,579,271, respectively, were excluded from the computation of diluted earnings per share.
Earnings per share
The following sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2013 and 2012 and period from October 6, 2011 (date of incorporation) to December 31, 2011:
 
 
 
2013
 
2012
 
2011
Weighted-average number of common shares outstanding:
 
($ in thousands)
 
Basic number of common shares outstanding
 
87,505,540

 
78,432,132

 
78,432,132

 
Dilutive effect of options
 
400,149

 
—

 
—

 
Dilutive effect of warrants
 
1,064,842

 
166,104

 
—

 
Diluted number of common shares outstanding
 
88,970,531

 
78,598,236

 
78,432,132

 
 
 
 
 
 
 
 
Basic net income (loss) per common share:
 
 
 
 
 
 
 
Net income (loss)
 
$
227,311

 
$
99,401

 
$
(1,130
)
 
Income allocated to participating shares
 
(1,618
)
 
(734
)
 
—

 
Net income (loss) available to common shareholders
 
$
225,693

 
$
98,667

 
$
(1,130
)
 
 
 
 
 
 
 
 
 
Basic net income (loss) per common share
 
$
2.58

 
$
1.26

 
$
(0.01
)
 
 
 
 
 
 
 
 
 Diluted net income (loss) per common share
 
 
 
 
 
 
 
Net income (loss)
 
$
227,311

 
$
99,401

 
$
(1,130
)
 
Income allocated to participating securities
 
(1,592
)
 
(737
)
 
—

 
Net income (loss) available to common shareholders
 
$
225,719

 
$
98,664

 
$
(1,130
)
 
 
 
 
 
 
 
 
 
Diluted net income (loss) per common share
 
$
2.54

 
$
1.26

 
$
(0.01
)


For the years ended December 31, 2013 and 2012 and period from October 6, 2011 (date of incorporation) to December 31, 2011, anti-dilutive options and warrants of 3,786,173, 3,052,091 and 3,648,006, respectively, were excluded from the computation of diluted earnings (loss) per share.