Income (Loss) Per Common Share

Basic income (loss) per common share is determined by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share is determined by dividing 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. Through August 26, 2016, the date of the conversion of all of Mosing Holdings' Preferred Stock and Mosing Holdings' transfer of interest in FICV to us, the diluted income (loss) per share calculation assumed the conversion of 100% of our outstanding Preferred Stock on an as if converted basis. Accordingly, the numerator was 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 income (loss) per share calculations (in thousands, except per share amounts):



	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2017		2016			2017			2016
Numerator
Net income (loss)	$	2,296	$	(42,198	)	$	(50,317	)	$	(89,893	)
Less: Net loss attributable to noncontrolling interest	—		5,216			—			20,741
Less: Preferred stock dividends	—		—			—			(1		)
Net income (loss) available to common shareholders	$	2,296	$	(36,982	)	$	(50,317	)	$	(69,153	)
Denominator
Basic weighted average common shares	223,056		177,125			222,847			162,656
Restricted stock units ⁽¹⁾	525		—			—			—
Diluted weighted average common shares⁽¹⁾	223,581		177,125			222,847			162,656
Income (loss) per common share:
Basic	$	0.01	$	(0.21	)	$	(0.23	)	$	(0.43	)
Diluted	$	0.01	$	(0.21	)	$	(0.23	)	$	(0.43	)




⁽¹⁾	Approximate number of shares of potentially convertible preferred stock to common stock up until the time of conversion on August 26, 2016, unvested restricted stock units and stock to be issued pursuant to the ESPP have been excluded from the computation of diluted income (loss) per share as the effect would be anti-dilutive when the results from operations are at a net loss position.	—	32,977	624	47,273