Earnings per Share Earnings per Share (Notes)

12 Months Ended

Dec. 31, 2016

Earnings per Share

Net income is divided by the weighted average number of common shares outstanding during the year to calculate basic earnings per share. Diluted earnings per share is calculated to give effect to stock options and restricted share awards. For the years ended December 31, 2016 and 2015, no restricted shares were included in the computation of net income (loss) per share because to do so would be anti-dilutive. Options to purchase 206,854, 206,123 and 251,667 shares of common stock were outstanding at December 31, 2016, 2015 and 2014, respectively. For the years ended December 31, 2016 and 2015, no options to purchase shares of common stock were included in the computation of net income (loss) per share because to do so would have been anti-dilutive. The following table summarizes the dilutive effect of restricted shares and options to purchase common stock:



	Year ended December 31,
	2016	2015	2014
Weighted average common shares—basic	45,407,316	45,123,626	44,881,925
Dilutive effect of restricted share awards	—	—	245,828
Dilutive effect of stock options	—	—	141,656
Weighted average common shares—diluted	45,407,316	45,123,626	45,269,409