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Earnings (Loss) per Share (Tables)
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Calculation of Weighted Average Common Shares Outstanding Used in Computation of Diluted Loss Per Share
The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted income (loss) per share:
 
Net Income (Loss)
 
Weighted Average Shares
 
Earnings (Loss) Per Share
 
(In thousands, except per share amounts)
Three Months Ended March 31, 2017 (Successor)
 
 
 
 
 
Basic earnings per share
$
50,808

 
26,801

 
$
1.90

Effect of dilutive securities
 
 
 
 
 
Restricted stock awards(1)
—

 
—

 
 
Performance share units(1)
—

 
—

 
 
Diluted earnings per share
$
50,808

 
26,801

 
$
1.90

 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016 (Predecessor)
 
 
 
 
 
Basic loss per share
$
(324,107
)
 
689,784

 
$
(0.47
)
Effect of dilutive securities
 
 
 
 
 
Restricted stock and units(2)
—

 
—

 
 
Convertible preferred stock(3)
—

 
—

 
 
Convertible senior unsecured notes(4)
—

 
—

 
 
Diluted loss per share
$
(324,107
)
 
689,784

 
$
(0.47
)
____________________
(1)
No incremental shares of potentially dilutive restricted stock awards or performance share units were included for the three-month period ended March 31, 2017 as their effect was antidilutive under the treasury stock method.
(2)
No incremental shares of potentially dilutive restricted stock awards or units were included for the three-month period ended March 31, 2016 as their effect was antidilutive under the treasury stock method.
(3)
Potential common shares related to the Predecessor Company’s outstanding 8.5% and 7.0% convertible perpetual preferred stock covering 67.6 million shares for the three-month period ended March 31, 2016, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.
(4)
Potential common shares related to the Predecessor Company’s outstanding 8.125% and 7.5% Convertible Senior Unsecured Notes covering 38.5 million and 19.8 million shares for the three-month period ended March 31, 2016, respectively, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.