XML 34 R16.htm IDEA: XBRL DOCUMENT v3.4.0.3
Earnings per share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings per share
Earnings per share
The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts):
  
Three Months Ended March 31,
 
2016
 
2015
Net income (loss) attributable to common stockholders
$
(22,943
)
 
$
28,672

 
 
 
 
Average shares outstanding (basic)
90,477

 
89,482

Common stock equivalents
—

 
1,987

Diluted shares
90,477

 
91,469

Earnings(losses) per share
 
 
 
Basic earnings (losses) per share
$
(0.25
)
 
$
0.32

Diluted earnings (losses) per share
$
(0.25
)
 
$
0.31


The diluted earnings per share calculation excludes all stock options for the three months ended March 31, 2016 because there is a net loss for the quarter. The diluted earnings per share calculation excludes approximately 1.6 million stock options for the three months ended March 31, 2015, because they were anti-dilutive as the option exercise price was greater than the average market price of the Company's common stock.