Note 8 — Earnings (Loss) Per Share

The following table is a reconciliation of the weighted average shares used in the computation of earnings (loss) per share for the periods presented (in thousands, except per share data):

	Three Months Ended September 30,
	2017								2016
	Income (Loss)			Weighted Average Shares		Per-Share			Income (Loss)		Weighted Average Shares		Per-Share
Earnings (loss) per share — basic
Net income (loss) available to common stockholders	$	(17,614	)		22,772	$	(0.77	)	$	30,612		16,044	$	1.91
Effect of dilutive securities:
Convertible senior notes		—			—					1,840		23,081
Unvested performance stock grants		—			—					—		164
Unvested restricted stock grants		—			—					—		215
Earnings (loss) per share — diluted
Net income (loss) available to common stockholders plus assumed exercises and conversion	$	(17,614	)		22,772	$	(0.77	)	$	32,452		39,504	$	0.82

	Nine Months Ended September 30,
	2017								2016
	Income (Loss)			Weighted Average Shares		Per-Share			Income (Loss)		Weighted Average Shares		Per-Share
Earnings (loss) per share — basic
Net income (loss) available to common stockholders	$	(52,672	)		20,848	$	(2.53	)	$	8,828		16,561	$	0.53
Effect of dilutive securities:
Convertible senior notes		—			—					5,557		23,123
Unvested performance stock grants		—			—					—		115
Unvested restricted stock grants		—			—					—		117
Earnings (loss) per share — diluted
Net income (loss) available to common stockholders plus assumed exercises and conversion	$	(52,672	)		20,848	$	(2.53	)	$	14,385		39,916	$	0.36

Basic earnings (loss) per share is calculated using the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the weighted average number of common shares and common share equivalents outstanding during the period (which consist of warrants, options, restricted stock awards, restricted stock units and convertible debt to the extent they are dilutive). The weighted average number of common shares outstanding excludes shares repurchased pursuant to a prepaid forward share repurchase agreement (see Note 9). Common share equivalents that could potentially dilute basic earnings per share in the future, which were excluded from the computation of diluted earnings per share due to being anti-dilutive, totaled 20,215,325 and 25,495,045 for the three months ended September 30, 2017 and 2016, respectively, and 21,502,935 and 25,265,072 for the nine months ended September 30, 2017 and 2016, respectively.