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(Loss) Earnings per Share | 9 Months Ended
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Sep. 30, 2015
Earnings Per Share [Abstract] |
(Loss) Earnings Per Share | (Loss) Earnings 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 nine-month periods ended September 30, 2015 and 2014:
| Net (Loss) Income |  | Weighted Average Shares |  | (Loss) Earnings Per Share
| (In thousands, except per share amounts)
Three Months Ended September 30, 2015 |  |  |  |  |
Basic loss per share | $ | (649,526 | ) |  | 526,388 |  |  | $ | (1.23 | )
Effect of dilutive securities |  |  |  |  |
Restricted stock and units(1) | — |  |  | — |  |  |
Convertible preferred stock(2) | — |  |  | — |  |  |
Convertible senior unsecured notes(3) | — |  |  | — |  |  |
Diluted loss per share | $ | (649,526 | ) |  | 526,388 |  |  | $ | (1.23 | )
Three Months Ended September 30, 2014 |  |  |  |  |
Basic earnings per share | $ | 145,957 |  |  | 485,458 |  |  | $ | 0.30 |
Effect of dilutive securities |  |  |  |  |
Restricted stock | — |  |  | 320 |  |  |
Convertible preferred stock | 11,381 |  |  | 90,133 |  |  |
Diluted earnings per share | $ | 157,338 |  |  | 575,911 |  |  | $ | 0.27 |
Nine Months Ended September 30, 2015 |  |  |  |  |
Basic loss per share | $ | (3,070,916 | ) |  | 500,077 |  |  | $ | (6.14 | )
Effect of dilutive securities |  |  |  |  |
Restricted stock and units(1) | — |  |  | — |  |  |
Convertible preferred stock(2) | — |  |  | — |  |  |
Convertible senior unsecured notes(3) | — |  |  | — |  |  |
Diluted loss per share | $ | (3,070,916 | ) |  | 500,077 |  |  | $ | (6.14 | )
Nine Months Ended September 30, 2014 |  |  |  |  |
Basic loss per share | $ | (51,036 | ) |  | 485,194 |  |  | $ | (0.11 | )
Effect of dilutive securities |  |  |  |  |
Restricted stock(4) | — |  |  | — |  |  |
Convertible preferred stock(5) | — |  |  | — |  |  |
Diluted loss per share | $ | (51,036 | ) |  | 485,194 |  |  | $ | (0.11 | )
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(1) | No incremental shares of potentially dilutive restricted stock awards or units were included for the three and nine-month periods ended September 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 nine-month periods ended September 30, 2015, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.
(3) | Potential common shares related to the Company’s outstanding 8.125% and 7.5% Convertible Senior Unsecured Notes covering 43.4 million and 14.6 million shares for the three and nine-month periods ended September 30, 2015, respectively, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.
(4) | Restricted stock awards covering 2.8 million shares for the nine-month period ended September 30, 2014 were excluded from the computation of loss per share because their effect would have been antidilutive.
(5) | 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 nine-month period ended September 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 issuance of the Convertible Senior Unsecured Notes. See Note 11 for discussion of common stock issued in payment of preferred stock dividends.

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