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Earnings (Loss) Per Share | 12 Months Ended
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Dec. 31, 2018
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Earnings (Loss) Per Share In periods in which the company has net income, the company is required to calculate earnings (loss) per share ("EPS") using the two-class method. The two-class method is required because the company's preferred stock is considered a participating security with objectively determinable and non-discretionary dividend participation rights. Preferred stockholders have the right to participate in dividends above their five percent dividend rate should the company declare dividends on its Common Stock at a dividend rate higher than the five percent (on an as-converted basis). Under the two-class method, undistributed and distributed earnings are allocated on a pro-rata basis to the common and the preferred stockholders. The weighted-average number of common and preferred stock 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. Reconciliations of basic and diluted EPS are as follows:
|  | Year Ended December 31,
In thousands, except per share amounts |  | 2018 |  | 2017
Numerator: |  |  |  |
Net income (loss) |  | $ | 17,550 |  |  | $ | (41,860 | )
Less: Preferred stock dividend |  | 457 |  |  | — |
Less: Earnings attributable to participating securities |  | 2,202 |  |  | — |
Numerator for basic EPS: income/(loss) attributable to common stockholders |  | 14,891 |  |  | $ | (41,860 | )
Effect of dilutive securities: |  |  |  |
Add back: Allocation of earnings to participating securities |  | 2,202 |  |  | — |
Less: Re-allocation of earnings to participating securities considering potentially dilutive securities |  | (2,191 | ) |  | — |
Numerator for diluted EPS |  | $ | 14,902 |  |  | $ | (41,860 | )
Denominator: |  |  |  |
Basic EPS denominator: weighted-average common shares outstanding |  | 6,237 |  |  | 6,192 |
Effect of dilutive securities: |  |  |  |
Unvested shares |  | 33 |  |  | — |
Diluted EPS denominator |  | 6,270 |  |  | 6,192 |
Basic earnings (loss) per common share |  | $ | 2.39 |  |  | $ | (6.76 | )
Diluted earnings (loss) per common share |  | $ | 2.38 |  |  | $ | (6.76 | )
For the purpose of calculating the shares used in the diluted EPS calculations, 0.2 million and 0.3 million anti-dilutive options have been excluded from the EPS calculations for the years ended December 31, 2018 and 2017. 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, 2018 and 2017, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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