11. EARNINGS PER COMMON SHARE

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Basic:
Net income (loss) available to common stockholders	$	(81,837)	$	419,287	$	(100,709)	$	580,809
Weighted average basic number of common shares outstanding		158,011		146,944		156,628		127,458
Basic net income (loss) per share of common stock	$	(0.52)	$	2.85	$	(0.64)	$	4.56
Diluted:
Net income (loss) available to common stockholders	$	(81,837)	$	419,287	$	(100,709)	$	580,809
Weighted average basic number of common shares outstanding		158,011		146,944		156,628		127,458
Common stock equivalent shares representing shares issuable upon:
Exercise of stock options		Anti-dilutive		Anti-dilutive		Anti-dilutive		Anti-dilutive
Exercise of warrants		Anti-dilutive		Anti-dilutive		Anti-dilutive		Anti-dilutive
Vesting of restricted shares		Anti-dilutive		1,546		Anti-dilutive		952
Conversion of preferred stock		—		—		—		Anti-dilutive
Weighted average diluted number of common shares outstanding		158,011		148,490		156,628		128,410
Diluted net income (loss) per share of common stock	$	(0.52)	$	2.82	$	(0.64)	$	4.52

Common stock equivalents, including stock options, restricted shares, and warrants totaling 14.9 million and 14.3 million shares for the three and nine months ended September 30, 2018, respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net losses.

Common stock equivalents, including stock options, restricted shares, warrants, and preferred stock totaling 11.7 million and 19.0 million shares for the three and nine months ended September 30, 2017, respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.