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Basic and Diluted Earnings per Share | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Basic and Diluted Earnings per Share | Note 15 – Basic and Diluted Earnings per Share Basic earnings per share excludes common stock equivalents and is calculated by dividing net income attributable to Ocwen common stockholders by the weighted average number of common shares outstanding during the year. We calculate diluted earnings per share by dividing net income attributable to Ocwen by the weighted average number of common shares outstanding, including the potential dilutive common shares related to outstanding stock options and restricted stock awards. The following is a reconciliation of the calculation of basic earnings per share to diluted earnings per share for the periods ended September 30:
| Three Months |  | Nine Months
| 2016 |  | 2015 |  | 2016 |  | 2015
Basic earnings per share: |  |  |  |  |  |  |
Net income (loss) attributable to Ocwen common stockholders | $ | 9,391 |  |  | $ | (66,869 | ) |  | $ | (189,318 | ) |  | $ | (22,776 | )
Weighted average shares of common stock | 123,986,987 |  |  | 125,383,639 |  |  | 123,991,343 |  |  | 125,322,742 |
Basic earnings (loss) per share | $ | 0.08 |  |  | $ | (0.53 | ) |  | $ | (1.53 | ) |  | $ | (0.18 | )
Diluted earnings (loss) per share (1): |  |  |  |  |  |  |
Net income (loss) attributable to Ocwen common stockholders | $ | 9,391 |  |  | $ | (66,869 | ) |  | $ | (189,318 | ) |  | $ | (22,776 | )
Weighted average shares of common stock | 123,986,987 |  |  | 125,383,639 |  |  | 123,991,343 |  |  | 125,322,742 |
Effect of dilutive elements (1): |  |  |  |  |  |  |
Stock option awards | — |  |  | — |  |  | — |  |  | — |
Common stock awards | 147,520 |  |  | — |  |  | — |  |  | — |
Dilutive weighted average shares of common stock | 124,134,507 |  |  | 125,383,639 |  |  | 123,991,343 |  |  | 125,322,742 |
Diluted earnings (loss) per share | $ | 0.08 |  |  | $ | (0.53 | ) |  | $ | (1.53 | ) |  | $ | (0.18 | )
Stock options and common stock awards excluded from the computation of diluted earnings per share: |  |  |  |  |  |  |
Anti-dilutive (2) | 6,890,882 |  |  | 2,037,872 |  |  | 7,285,539 |  |  | 1,965,049 |
Market-based (3) | 1,917,456 |  |  | 924,438 |  |  | 1,917,456 |  |  | 924,438 |
(1) | For the nine months ended September 30, 2016 and for the three and nine months ended September 30, 2015, we have excluded the effect of stock options and common stock awards from the computation of diluted earnings per share because of the anti-dilutive effect of our reported net loss.
(2) | These stock options were anti-dilutive because their exercise price was greater than the average market price of Ocwen’s stock.
(3) | Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.

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