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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share

Basic earnings per common share is determined by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued.
    
We apply the treasury stock method to determine the dilutive weighted average common shares represented by the unvested restricted stock units and employee stock purchase plan shares. The diluted earnings per share calculation assumes the conversion of 100% of our outstanding Preferred Stock on an as if converted basis. Accordingly, the numerator is also adjusted to include the earnings allocated to the noncontrolling interest after taking into account the tax effect of such exchange.

The following table summarizes the basic and diluted earnings per share calculations (in thousands, except per share amounts):
 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
Numerator - Basic
 
 
 
 
Income (loss) from continuing operations
 
$
(2,408
)
 
$
46,401

Less: Net (income) loss attributable to noncontrolling interest
 
1,636

 
(12,122
)
Net income (loss) available to common shareholders
 
$
(772
)
 
$
34,279

 
 
 
 
 
Numerator - Diluted
 
 
 
 
Income (loss) from continuing operations attributable to common shareholders
 
$
(772
)
 
$
34,279

Add: Net income attributable to noncontrolling interest (1), (2)
 
—

 
9,938

Dilutive net income (loss) available to common shareholders
 
$
(772
)
 
$
44,217

 
 
 
 
 
Denominator
 
 
 
 
Basic weighted average common shares
 
155,244

 
154,329

Exchange of noncontrolling interest for common stock (Note 11), (2)
 
—

 
52,976

Restricted stock units (2)
 
—

 
1,173

Stock to be issued pursuant to employee stock purchase plan
 
—

 
1

Diluted weighted average common shares
 
155,244

 
208,479

 
 
 
 
 
Earnings per common share:
 
 
 
 
Basic
 
$
—

 
$
0.22

Diluted
 
$
—

 
$
0.21

 
 
 
 
 
 
(1)
Adjusted for the additional tax expense upon the assumed conversion of the Preferred Stock
 
$
—

 
$
2,184

(2)
Approximately 54.4 million shares of potentially convertible preferred stock to common stock and unvested restricted stock units have been excluded from the computation of diluted earnings per share as the effect would be anti-dilutive when the results from operations are at a net loss.