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Income (Loss) per Share | 9 Months Ended
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Sep. 30, 2017
Earnings Per Share [Abstract] |
Income (Loss) per Share | Income (Loss) per Share Basic income (loss) per share is computed by dividing net income (loss) by the sum of the weighted-average number of common shares outstanding and the weighted-average number of shares issuable under the common stock warrants, representing 354 thousand shares during each of the three and nine months ended September 30, 2017 and 352 thousand shares during each of the three and nine months ended September 30, 2016, respectively. The common stock warrants are included in the calculation of basic income (loss) per share because they are issuable for minimal consideration. The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Net income (loss) | $ | 18,824 |  |  | $ | (27,761 | ) |  | $ | 53,616 |  |  | $ | (59,522 | )
Less: Undistributed income allocated to participating securities (1) | 238 |  |  | — |  |  | 685 |  |  | — |
Net income (loss) attributable to common stockholders | 18,586 |  |  | (27,761 | ) |  | 52,931 |  |  | (59,522 | )
Plus: Net income effect of convertible securities | 2,566 |  |  | — |  |  | — |  |  | — |
Numerator for diluted income (loss) per common share | $ | 21,152 |  |  | $ | (27,761 | ) |  | $ | 52,931 |  |  | $ | (59,522 | )
Basic weighted-average common stock shares outstanding | 45,561 |  |  | 41,580 |  |  | 45,505 |  |  | 41,309 |
Plus: dilutive effects of common stock equivalents (2) | 6,431 |  |  | — |  |  | 22 |  |  | — |
Diluted weighted-average common stock shares outstanding | 51,992 |  |  | 41,580 |  |  | 45,527 |  |  | 41,309 |
Basic income (loss) per common share | $ | 0.41 |  |  | $ | (0.67 | ) |  | $ | 1.16 |  |  | $ | (1.44 | )
Diluted income (loss) per common share | $ | 0.41 |  |  | $ | (0.67 | ) |  | $ | 1.16 |  |  | $ | (1.44 | )
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(1) | Participating securities include restricted stock that has been issued but has not yet vested.
(2) | Entities with a net loss from continuing operations are prohibited from including potential common shares in the computation of diluted per share amounts. We have utilized the basic shares outstanding to calculate both basic and diluted loss per share for the three and nine months ended September 30, 2016.
For the three and nine months ended September 30, 2017, our calculation of dilutive shares outstanding excluded 31 thousand and 83 thousand shares of unvested restricted stock and 1.3 million and 1.5 million stock options, respectively. For the nine months ended September 30, 2017, our calculation of dilutive shares outstanding also excluded 6.4 million common stock equivalents assuming our 5.00% Convertible Senior Notes had been converted on January 1, 2017. For the three and nine months ended September 30, 2016, our calculation of diluted shares outstanding excluded 463 thousand and 448 thousand shares of unvested restricted stock, 1.7 million stock options, and 6.4 million and 2.3 million common stock equivalents assuming our 5.00% Convertible Senior Notes had been converted on the date of issuance, respectively. As discussed in Note 8—Debt, we have the option of settling the 5.00% Convertible Senior Notes in cash or shares of common stock, or any combination thereof, upon conversion. For the three and nine months ended September 30, 2017, diluted income (loss) per share was determined using the if-converted method.

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