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, 2016 and 2015:



	Net Loss			Weighted Average Shares	Loss Per Share
	(In thousands, except per share amounts)
Three Months Ended June 30, 2016
Basic loss per share	$	(521,351	)	718,102	$	(0.73	)
Effect of dilutive securities
Restricted stock and units(1)	—			—
Diluted loss per share	$	(521,351	)	718,102	$	(0.73	)
Three Months Ended June 30, 2015
Basic loss per share	$	(1,375,556	)	495,153	$	(2.78	)
Effect of dilutive securities
Restricted stock(1)	—			—
Convertible preferred stock(2)	—			—
Diluted loss per share	$	(1,375,556	)	495,153	$	(2.78	)
Six Months Ended June 30, 2016
Basic loss per share	$	(845,458	)	703,943	$	(1.20	)
Effect of dilutive securities
Restricted stock and units(1)	—			—
Diluted loss per share	$	(845,458	)	703,943	$	(1.20	)
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	)

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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, 2016 or 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 and June 30, 2015, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.

As a result of the Chapter 11 proceedings, all conversions of the Company’s convertible perpetual preferred stock and conversions of the Company’s outstanding 8.125% and 7.5% Convertible Senior Unsecured Notes to common stock were stayed as of the date of the bankruptcy petition filings and as such, there were no potential common shares related to convertible perpetual preferred stock or Convertible Senior Unsecured Notes at June 30, 2016. See Note 6 for discussion of common stock issued in exchange for Senior Unsecured Notes and issuance of the Convertible Senior Unsecured Notes.