Earning Per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

The calculation of (loss) earnings per common share for the years ended December 31, 2015, 2014 and 2013 is as follows:

	Year Ended December 31,
	2015		2014		2013
	(In thousands, except per share data)
Net (loss) income	$	(2,504)	$	85,181	$	98,446
Less: Dividends on preferred stock
Non-convertible preferred stock (Series A, B, and D)		(6,512)		(6,512)		(6,512)
Convertible preferred stock (Series C)		(7,350)		(7,350)		(7,350)
(Loss) income available to common shareholders	$	(16,366)	$	71,319	$	84,584
Effect of assumed conversion of the convertible ' ' preferred stock		7,350		7,350		7,350
(Loss) income available to common shareholders assuming conversion	$	(9,016)	$	78,669	$	91,934

Weighted average common shares and share equivalents:
Average common shares outstanding		44,231		45,024		45,706
Effect of dilutive securities:
Average potential common shares-options		68		155		189
Average potential common shares-assuming ' ' conversion of convertible preferred stock		7,156		7,147		7,138
Total weighted average common shares ' 'outstanding and equivalents		51,455		52,326		53,033
(Loss) earnings per common share - basic	$	(0.37)	$	1.58	$	1.85
(Loss) earnings per common share - diluted	$	(0.37)	$	1.50	$	1.73