3. Earnings Per Common Share

We report basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share, which includes the effect of all potentially dilutive securities unless their impact is antidilutive. 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 June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Income (numerator):
Net loss – basic	$	(9,072	)	$	(8,896	)	$	(16,518	)	$	(149,664	)

Weighted average shares (denominator):
Weighted average shares – basic		94,470,636			86,340,634			94,548,898			78,418,977
Dilution effect of share-based compensation, treasury method (1)		—			—			—			—
Weighted average shares – diluted		94,470,636			86,340,634			94,548,898			78,418,977

Net loss per share:
Basic	$	(0.10	)	$	(0.10	)	$	(0.17	)	$	(1.91	)
Diluted	$	(0.10	)	$	(0.10	)	$	(0.17	)	$	(1.91	)

(1)	Approximately 39,000 options to purchase our common stock were excluded from this calculation because they were antidilutive for the three and six months ended June 30, 2017. No options were outstanding as of June 30, 2018, as they had expired.