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Net Income (Loss) per Share | 12 Months Ended
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Dec. 31, 2016
Earnings Per Share [Abstract] |
Net Income (Loss) per Share | Net Income (Loss) per Share Basic and diluted earnings (loss) per share are computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security. We have determined that our 6.00% tangible equity units are participating securities. Per share amounts are computed by dividing earnings available to common shareholders by the weighted average shares outstanding during each period. In periods with a net loss, no such adjustment is made to earnings as the holders of the participating securities have no obligation to fund losses. The computations of basic and diluted earnings (loss) per share are as follows:
| For the Year
| 2016 |  | 2015 |  | 2014
| (In thousands)
Numerator: |  |  |  |  |
Continuing operations |  |  |  |  |
Net income (loss) from continuing operations | $ | 77,044 |  |  | $ | (26,241 | ) |  | $ | 36,697 |
Less: Net (income) attributable to noncontrolling interest | (1,531 | ) |  | (676 | ) |  | (505 | )
Earnings (loss) available for diluted earnings per share | $ | 75,513 |  |  | $ | (26,917 | ) |  | $ | 36,192 |
Less: Undistributed net income from continuing operations allocated to participating securities | (13,493 | ) |  | — |  |  | (6,586 | )
Earnings (loss) from continuing operations available to common shareholders for basic earnings per share | $ | 62,020 |  |  | $ | (26,917 | ) |  | $ | 29,606 |
Discontinued operations |  |  |  |  |
Net income (loss) from discontinued operations available for diluted earnings per share | (16,865 | ) |  | (186,130 | ) |  | (19,609 | )
Less: Undistributed net income from discontinued operations allocated to participating securities | 3,014 |  |  | — |  |  | 3,569 |
Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share | (13,851 | ) |  | (186,130 | ) |  | (16,040 | )
Denominator: |  |  |  |  |
Weighted average common shares outstanding — basic | 34,546 |  |  | 34,266 |  |  | 35,317 |
Weighted average common shares upon conversion of participating securities (a) | 7,515 |  |  | — |  |  | 7,857 |
Dilutive effect of stock options, restricted stock and equity-settled awards | 273 |  |  | — |  |  | 422 |
Total weighted average shares outstanding — diluted | 42,334 |  |  | 34,266 |  |  | 43,596 |
Anti-dilutive awards excluded from diluted weighted average shares outstanding | 2,102 |  |  | 10,864 |  |  | 2,238 |
_____________________
(a) | Our earnings per share calculation reflects the weighted average shares issuable upon settlement of the prepaid stock purchase contract component of our 6.00% tangible equity units, issued in 2013.
On December 15, 2016, we issued 7,857,000 shares of our common stock upon settlement of the stock purchase contract related to the 6.00% tangible equity units. We intend to settle the principal amount of the Convertible Notes in cash upon conversion with any excess conversion value to be settled in shares of our common stock. Therefore, only the amount in excess of the par value of the Convertible Notes will be included in our calculation of diluted net income per share using the treasury stock method. As such, the Convertible Notes have no impact on diluted net income per share until the price of our common stock exceeds the conversion price of the Convertible Notes of $24.49. The average price of our common stock in 2016 did not exceed the conversion price which resulted in no additional diluted outstanding shares.

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