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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is calculated by dividing net income (loss) available to common stockholders that has been adjusted for dilutive securities, by the weighted-average number of common shares outstanding including dilutive securities.

The following is a reconciliation of the calculation of basic and diluted earnings (loss) per share (in thousands, except share and per-share data):
 
Years Ended December 31,
 
2014
 
2013
 
2012
Numerator:
 
 
 
 
 
Income (loss) from continuing operations
$
163,377

 
$
23,828

 
$
(18,075
)
Income from discontinued operations
—

 
25,237

 
1,483

Net income (loss)
$
163,377

 
$
49,065

 
$
(16,592
)
Denominator:
 
 
 
 
 
Weighted-average number of common shares outstanding—basic
195,943,813

 
195,478,353

 
180,826,124

   Effect of dilutive securities:
 
 
 
 
 
Unvested restricted common stock
181,310

 
177,314

 
—

Shares related to unvested MSUs and PSUs
556,763

 
206,839

 
—

Unexercised stock appreciation rights

1,095

 
—

 
—

Weighted-average number of common shares outstanding—diluted
196,682,981

 
195,862,506

 
180,826,124

Basic earnings (loss) per share:
 
 
 
 
 
Continuing operations
$
0.83

 
$
0.12

 
$
(0.10
)
Discontinued operations
—

 
0.13

 
0.01

Total
$
0.83

 
$
0.25

 
$
(0.09
)
Diluted earnings (loss) earnings per share:
 
 
 
 
 
Continuing operations
$
0.83

 
$
0.12

 
$
(0.10
)
Discontinued operations
—

 
0.13

 
0.01

Total
$
0.83

 
$
0.25

 
$
(0.09
)


We did not include the following shares in our calculation of diluted loss per share as they would be anti-dilutive:
 
Years Ended December 31,
 
2014
 
2013
 
2012
Unvested restricted common stock
—

 
—

 
161,266

Unexercised stock appreciation rights
—

 
262,461

 
262,461

Shares related to unvested MSUs
—

 
—

 
237,956

Total
—

 
262,461

 
661,683