Loss per Share

The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted loss per share, for the three and six-month periods ended June 30, 2015 and 2014:



	Net Loss			Weighted Average Shares		Loss Per Share
	(In thousands, except per share amounts)
Three Months Ended June 30, 2015
Basic loss per share	$	(1,375,556	)	495,153		$	(2.78	)
Effect of dilutive securities
Restricted stock and units(1)	—			—
Convertible preferred stock(2)	—			—
Diluted loss per share	$	(1,375,556	)	495,153		$	(2.78	)
Three Months Ended June 30, 2014
Basic loss per share	$	(46,775	)	$	485,318	$	(0.10	)
Effect of dilutive securities
Restricted stock(3)	—			—
Convertible preferred stock(4)	—			—
Diluted loss per share	$	(46,775	)	485,318		$	(0.10	)

Six Months Ended June 30, 2015
Basic loss per share	$	(2,421,390	)	486,704		$	(4.98	)
Effect of dilutive securities
Restricted stock and units(1)	—			—
Convertible preferred stock(2)	—			—
Diluted loss per share	$	(2,421,390	)	486,704		$	(4.98	)
Six Months Ended June 30, 2014
Basic loss per share	$	(196,993	)	485,059		$	(0.41	)
Effect of dilutive securities
Restricted stock(3)	—			—
Convertible preferred stock(4)	—			—
Diluted loss per share	$	(196,993	)	485,059		$	(0.41	)

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(1)	No incremental shares of potentially dilutive restricted stock awards or units were included for the three and six-month periods ended June 30, 2015 as their effect was antidilutive under the treasury stock method.


(2)	Potential common shares related to the Company’s outstanding 8.5% and 7.0% convertible perpetual preferred stock covering 71.7 million shares for the three and six-month periods ended June 30, 2015, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.


(3)	Restricted stock awards covering 2.0 million and 2.6 million shares for the three and six-month periods ended June 30, 2014, respectively, were excluded from the computation of loss per share because their effect would have been antidilutive.


(4)	Potential common shares related to the Company’s outstanding 8.5%, 6.0% and 7.0% convertible perpetual preferred stock covering 90.1 million shares for the three and six-month periods ended June 30, 2014, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.

See Note 7 for discussion of common stock issued in exchange for Senior Unsecured Notes and Note 11 for discussion of common stock issued in payment of preferred stock dividends.