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Earnings (Loss) Per Common Share | 6 Months Ended
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Jun. 30, 2016
Earnings Per Share [Abstract] |
Earnings (Loss) Per Common Share | Earnings (Loss) Per Common Share Basic earnings (loss) per common share is determined by dividing net income (loss), less preferred stock dividends, by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) 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 ESPP shares. The diluted earnings (loss) 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 (loss) per share calculations (in thousands, except per share amounts):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Numerator - Basic |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | (45,287 | ) |  | $ | 28,853 |  |  | $ | (47,695 | ) |  | $ | 75,254 |
Less: Net (income) loss attributable to noncontrolling interest | 13,889 |  |  | (8,023 | ) |  | 15,525 |  |  | (20,145 | )
Less: Preferred stock dividends | (1 | ) |  | (2 | ) |  | (1 | ) |  | (2 | )
Net income (loss) available to common shareholders | $ | (31,399 | ) |  | $ | 20,828 |  |  | $ | (32,171 | ) |  | $ | 55,107 |
Numerator - Diluted |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to common shareholders | $ | (31,399 | ) |  | $ | 20,828 |  |  | $ | (32,171 | ) |  | $ | 55,107 |
Add: Net income attributable to noncontrolling interest (1), (2) | — |  |  | 7,664 |  |  | — |  |  | 17,602 |
Add: Preferred stock dividends (2) | — |  |  | 2 |  |  | — |  |  | 2 |
Dilutive net income (loss) available to common shareholders | $ | (31,399 | ) |  | $ | 28,494 |  |  | $ | (32,171 | ) |  | $ | 72,711 |
Denominator |  |  |  |  |  |  |
Basic weighted average common shares | 155,440 |  |  | 154,344 |  |  | 155,342 |  |  | 154,337 |
Exchange of noncontrolling interest for common stock (Note 11), (2) | — |  |  | 52,976 |  |  | — |  |  | 52,976 |
Restricted stock units (2) | — |  |  | 1,789 |  |  | — |  |  | 1,489 |
Stock to be issued pursuant to ESPP (2) | — |  |  | 5 |  |  | — |  |  | 2 |
Diluted weighted average common shares | 155,440 |  |  | 209,114 |  |  | 155,342 |  |  | 208,804 |
Earnings (loss) per common share: |  |  |  |  |  |  |
Basic | $ | (0.20 | ) |  | $ | 0.14 |  |  | $ | (0.21 | ) |  | $ | 0.36 |
Diluted | $ | (0.20 | ) |  | $ | 0.14 |  |  | $ | (0.21 | ) |  | $ | 0.35 |
(1) | Adjusted for the additional tax expense upon the assumed conversion of the Preferred Stock | $ | — |  |  | $ | 359 |  |  | $ | — |  |  | $ | 2,543 |
(2) | Approximate number of shares of potentially convertible preferred stock to common stock, unvested restricted stock units and stock to be issued pursuant to the ESPP have been excluded from the computation of diluted earnings (loss) per share as the effect would be anti-dilutive when the results from operations are at a net loss. | 54,534 |  |  | — |  |  | 54,489 |  |  | — |

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