The following table provides a reconciliation of the numerators and denominators of our basic and diluted earnings per share (dollars in thousands, except per-share amounts).

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Income (numerator):
Net loss – basic	$	(9,073	)	$	(148,787	)	$	(38,768	)	$	(168,345	)

Weighted average shares (denominator):
Weighted average shares – basic		41,610,083			40,541,420			41,415,260			40,419,187
Dilution effect of share-based compensation, treasury method (1)		—			—			—			—
Weighted average shares – diluted		41,610,083			40,541,420			41,415,260			40,419,187

Net loss per share:
Basic	$	(0.22	)	$	(3.67	)	$	(0.94	)	$	(4.16	)
Diluted	$	(0.22	)	$	(3.67	)	$	(0.94	)	$	(4.16	)

(1)	Approximately 39,000 options to purchase our common stock were excluded from this calculation because they were antidilutive for the three and nine months ended September 30, 2016 and 2015.