Loss Per Share ("EPS")

6 Months Ended

Jun. 30, 2016

8. Loss Per Share (“EPS”)

For the three and six months ended June 30, 2016, 7,412,133 and 7,181,595, respectively, of potentially dilutive shares were excluded from the computation of diluted loss per share due to the Company recognizing a net loss for the period, compared to 6,566,619 for the corresponding periods of 2015.

Basic and diluted loss per share follows (in millions, except share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015

Numerator for basic and diluted net loss per share attributable to the Company's stockholders:
Net loss attributable to the Company	$	(44	)	$	(19	)	$	(107	)	$	(29	)
Less: net loss attributable to nonvested shares⁽¹⁾		—			—			—			1
Net loss attributable to the Company's stockholders	$	(44	)	$	(19	)	$	(107	)	$	(28	)
Denominator for basic loss per share attributable to the Company's stockholders:
Weighted average common shares outstanding		107,442,304			107,178,567			107,357,620			107,147,086
Effect of dilutive securities:
Dilutive effect of stock-based compensation		—			—			—			—
Denominator for diluted loss per share attributable to the Company's stockholders		107,442,304			107,178,567			107,357,620			107,147,086
Loss per share attributable to the Company's stockholders:
Basic	$	(0.40	)	$	(0.18	)	$	(0.99	)	$	(0.27	)
Diluted	$	(0.40	)	$	(0.18	)	$	(0.99	)	$	(0.27	)

⁽¹⁾

ASC Topic 260, “Earnings Per Share” (“ASC Topic 260”) requires companies with unvested participating securities to utilize a two-class method for the computation of net income attributable to the Company per share. The two-class method requires a portion of net income attributable to the Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents, if declared. Net losses are not allocated to nonvested shares in periods that the Company determines that those shares are not obligated to participate in losses. For periods in which the Company recognizes net income, net income attributable to the Company allocated to these participating securities was excluded from net income attributable to the Company’s stockholders in the numerator of the earnings per share computation.