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Earnings Per Share
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings (Loss) Per Share

In periods in which the company has net income, the company is required to calculate earnings per share using the two-class method. The two-class method is required because the company's unvested shares granted prior to 2017 are considered participating securities. Participating securities have the right to receive dividends should the company declare dividends on its common stock. Under the two-class method, undistributed and distributed earnings are allocated on a pro-rata basis to the common and restricted stockholders. The weighted-average number of common and restricted shares outstanding during the period is then used to calculate EPS for each class of shares.

In periods in which the company has a net loss, basic loss per share is calculated using the treasury stock method. The treasury stock method is calculated by dividing the net loss by the weighted-average number of common shares outstanding during the period. The two-class method is not used, because the two-class calculation is anti-dilutive.

On January 31, 2018, we affected a 1-for-10 reverse stock split of our common stock. The calculation of basic and diluted earnings (loss) per share, as presented in the consolidated financial statements, have been adjusted to retroactively apply the reverse stock split.

Reconciliations of basic and diluted earnings (loss) per share ("EPS") are as follows:
In thousands, except per share amounts
 
2017
 
2016
 
2015
Net Income (Loss)
 
 

 
 

 
 

Income (loss) from continuing operations
 
$
(41,860
)
 
$
(89,778
)
 
$
(181,066
)
Income (loss) from discontinued operations
 
—

 
(41,159
)
 
10,138

Net income (loss)
 
$
(41,860
)
 
$
(130,937
)
 
$
(170,928
)
 
 
 
 
 
 
 
Basic EPS
 
 

 
 

 
 

Weighted-average common shares outstanding used in earnings per share computations
 
6,192

 
6,149

 
6,164

 
 
 
 
 
 
 
Basic earnings (loss) per share
 
 

 
 

 
 

Continuing operations
 
$
(6.76
)
 
$
(14.60
)
 
$
(29.37
)
Discontinued operations
 
—

 
(6.69
)
 
1.64

Basic earnings (loss) per share
 
$
(6.76
)
 
$
(21.29
)
 
$
(27.73
)
 
 
 
 
 
 
 
Diluted EPS
 
 

 
 

 
 

Shares used in diluted earnings per share computations
 
6,192

 
6,149

 
6,164

 
 
 
 
 
 
 
Basic earnings (loss) per share
 
 

 
 

 
 

Continuing operations
 
$
(6.76
)
 
$
(14.60
)
 
$
(29.37
)
Discontinued operations
 
—

 
(6.69
)
 
1.64

Basic earnings (loss) per share
 
$
(6.76
)
 
$
(21.29
)
 
$
(27.73
)
 
 
 
 
 
 
 
Computation of Shares Used in Earnings Per Share Computations
 
 

 
 

 
 

Weighted-average common shares outstanding
 
6,192

 
6,149

 
6,164

Weighted-average common equivalent shares-dilutive effect of stock options and awards
 
—

 
—

 
—

Shares used in diluted earnings per share computations
 
6,192

 
6,149

 
6,164



For the purpose of calculating the shares used in the diluted EPS calculations, 0.3 million, 0.4 million, and 0.5 million anti-dilutive options have been excluded from the EPS calculations for the years ended December 31, 2017, 2016, and 2015, respectively. 0.1 million, 0.1 million, and 0.1 million anti-dilutive unvested shares were excluded from the calculation of shares used in the diluted EPS calculation for the years ended December 31, 2017, 2016, and 2015, respectively.