Income (Loss) Per Common Share (Tables)

12 Months Ended

Dec. 31, 2017

The following table summarizes the basic and diluted income (loss) per share calculations (in thousands, except per share amounts):



	Year Ended December 31,
	2017			2016			2015
Numerator - Basic
Net income (loss)	$	(159,457	)	$	(156,079	)	$	106,110
Less: Net (income) loss attributable to noncontrolling interest	—			20,741			(27,000		)
Less: Preferred stock dividends	—			(1		)	(2		)
Net income (loss) available to common shareholders	$	(159,457	)	$	(135,339	)	$	79,108

Numerator - Diluted
Net income (loss) attributable to common shareholders	$	(159,457	)	$	(135,339	)	$	79,108
Add: Net income attributable to noncontrolling interest ^{(1), (2)}	—			—			24,784
Add: Preferred stock dividends ⁽²⁾	—			—			2
Dilutive net income (loss) available to common shareholders	$	(159,457	)	$	(135,339	)	$	103,894

Denominator
Basic weighted average common shares	222,940			176,584			154,662
Exchange of noncontrolling interest for common stock (Note 12) ⁽²⁾	—			—			52,976
Restricted stock units ⁽²⁾	—			—			1,512
Stock to be issued pursuant to ESPP ⁽²⁾	—			—			2
Diluted weighted average common shares	222,940			176,584			209,152

Income (loss) per common share:
Basic	$	(0.72	)	$	(0.77	)	$	0.51
Diluted	$	(0.72	)	$	(0.77	)	$	0.50



(1)	Adjusted for the additional tax expense upon the assumed conversion of the Preferred Stock	$	—	$	—	$	2,216
(2)	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.	648		35,556		—