NET LOSS PER COMMON SHARE

3 Months Ended

Mar. 31, 2015

7 — NET LOSS PER COMMON SHARE

The computation of basic net loss per share is based on the weighted-average number of common shares outstanding during the year. The computation of diluted net loss per share assumes the vesting of nonvested stock awards (refer to Note 21 — Stock-Based Compensation), for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost attributable to future services and are not yet recognized using the treasury stock method, to the extent dilutive. Of the 1,110,600 nonvested shares outstanding at March 31, 2015 (refer to Note 21 — Stock-Based Compensation), all are anti-dilutive. The Successor Company’s diluted net loss per share will also reflect the assumed conversion of the equity warrants issued on the Effective Date and MIP Warrants issued by the Successor Company (refer to Note 21 — Stock-Based Compensation) if the impact is dilutive under the treasury stock method. The Predecessor Company’s diluted net loss per share will also reflect the assumed conversion under the Predecessor Company’s convertible debt if the impact is dilutive under the “if converted” method. The impact of the shares convertible under the Predecessor Company’s convertible notes is excluded from the computation of diluted earnings per share when interest expense per common share obtainable upon conversion is greater than basic earnings per share.

The components of the denominator for the calculation of basic net loss per share and diluted net loss per share are as follows:

	Successor	Predecessor
	Three Months Ended March 31, 2015	Three Months Ended March 31, 2014

Common shares outstanding, basic:
Weighted-average common shares outstanding, basic	60,430,789	43,568,942

Common shares outstanding, diluted:
Weighted-average common shares outstanding, basic	60,430,789	43,568,942

Dilutive effect of warrants	—	—

Dilutive effect of convertible notes	—	—

Dilutive effect of restricted stock awards	—	—

Weighted-average common shares outstanding, diluted	60,430,789	43,568,942

The following table sets forth a reconciliation of the net loss attributable to GS&T and the net loss attributable to GS&T for diluted net loss per share under the “if-converted” method:

	Successor			Predecessor
	Three Months Ended March 31, 2015			Three Months Ended March 31, 2014

Net loss attributable to GS&T	$	(38,442	)	$	(39,105	)

Interest expense related to convertible notes, if dilutive	—			—

Net loss attributable to GS&T for the computation of diluted net loss per share	$	(38,442	)	$	(39,105	)

- Definition

The entire disclosure for earnings per share.

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