Net Loss Attributable to Controlling Interests Per Common Share

We compute net income attributable to controlling interests per common share by dividing net income attributable to controlling interests by the weighted-average common shares (including participating securities) outstanding during the period, as discussed below. Diluted computations applicable in financial reporting periods in which we report income reflect the potential dilution to the basic income per common share computations that could occur if securities or other contracts to issue common stock were exercised, were converted into common stock or were to result in the issuance of common stock that would share in our results of operations. In performing our net income attributable to controlling interests per common share computations, we apply accounting rules that require us to include all unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted calculations. Common stock and certain unvested share-based payment awards earn dividends equally, and we have included all outstanding restricted stock awards in our basic and diluted calculations for current and prior periods.

The following table sets forth the computations of net loss per common share (in thousands, except per share data):



	For the Year Ended December 31,
	2017			2016
Numerator:
Net loss attributable to controlling interests	$	(40,781	)	$	(6,335	)
Denominator:
Basic (including unvested share-based payment awards) (1)	13,925			13,867
Effect of dilutive stock compensation arrangements (2)	15			70
Diluted (including unvested share-based payment awards) (1)	13,940			13,937
Net loss attributable to controlling interests per common share—basic	$	(2.93	)	$	(0.46	)
Net loss attributable to controlling interests per common share—diluted	$	(2.93	)	$	(0.46	)


(1)	Shares related to unvested share-based payment awards included in our basic and diluted share counts were 281,282 for the year ended December 31, 2017, compared to 300,478 for the year ended December 31, 2016.


(2)	The effect of dilutive stock compensation arrangements is shown only for informational purposes where we are in a net loss position. In such situations, the effect of including outstanding options and restricted stock would be anti-dilutive, and they are thus excluded from all loss period calculations.

For the years ended December 31, 2017 and 2016, there were no shares potentially issuable and thus includible in the diluted net income attributable to controlling interests per common share calculations pursuant to our 5.875% convertible senior notes. However, in future reporting periods during which our closing stock price is above the $24.61 conversion price for the 5.875% convertible senior notes, and depending on the closing stock price at conversion, the maximum potential dilution under the conversion provisions of such notes is 3.6 million shares, which could be included in diluted share counts in net income per common share calculations. See Note 10, “Convertible Senior Notes,” for a further discussion of these convertible securities.