Note 17 – Basic and Diluted Earnings (Loss) per Share

Basic earnings or loss per share excludes common stock equivalents and is calculated by dividing net income or loss attributable to Ocwen common stockholders by the weighted average number of common shares outstanding during the period. We calculate diluted earnings or loss per share by dividing net income or loss 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. For the three and six months ended June 30, 2019 and 2018, we have excluded the effect of all stock options and common stock awards from the computation of diluted loss per share because of the anti-dilutive effect of our reported net loss.



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Basic and Diluted loss per share
Net loss attributable to Ocwen stockholders	$	(89,737	)	$	(29,831	)	$	(134,231	)	$	(27,283	)

Weighted average shares of common stock — basic and diluted	134,465,741			133,856,132			134,193,874			133,490,828

Basic and Diluted loss per share	$	(0.67	)	$	(0.22	)	$	(1.00	)	$	(0.20	)

Stock options and common stock awards excluded from the computation of diluted earnings per share
Anti-dilutive (1)	4,107,485			6,492,703			4,126,819			6,498,025
Market-based (2)	854,181			645,984			854,181			645,984


(1)	Includes stock options that are anti-dilutive because their exercise price was greater than the average market price of Ocwen’s stock, and stock awards that are anti-dilutive based on the application of the treasury stock method.


(2)	Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.