Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to the Company’s Class A shareholders for the period by the weighted average number of Class A common shares outstanding for the period excluding non-vested restricted stock awards. In computing dilutive earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including: public and private placement warrants, RSUs, restricted stock awards, and stock options.

Below are basic and diluted earnings (loss) per share:



	Year Ended December 31, 2017		From November 4, 2016 through December 31, 2016
	(Successor)		(Successor)
Numerator:
Net income (loss) attributable to Class A shareholders (in thousands)	$	223,897	$	(4,404	)
Denominator:
Weighted-average Class A shares outstanding - basic (excluding non-vested restricted stock awards)	99,109,629		97,791,658
Dilutive effect of warrants	6,113,053		—
Dilutive effect of RSAs and RSUs	84,611		—
Weighted-average shares outstanding - diluted	105,307,293		97,791,658
Earnings (loss) per Class A share - basic	$	2.26	$	(0.05	)
Earnings (loss) per Class A share - dilutive	$	2.13	$	(0.05	)

For the year ended December 31, 2017, all stock options were excluded from the computation of diluted net income per share because the assumed proceeds from the awards’ exercise were greater than the average market price of the common shares.