Earnings Per Share

3 Months Ended

Mar. 31, 2016

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding and any dilutive Common Stock equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the “If-Converted” method and also Common Stock warrants as determined under the “Treasury Stock” method.

The following table sets forth basic and diluted income from continuing operations per common share for the three months ended March 31, 2016 and 2015 (in thousands, except per share data):



	For the three months
	ended March 31,
	2016		2015
Numerator:
Net income (loss)	$	53,639	$	(79,030)
Denominator:
Basic weighted-average shares outstanding		125,398		129,235
Dilutive impact of stock options and restricted shares		726		—
Diluted weighted-average shares outstanding		126,124		129,235
Earnings (loss) per share attributable to continuing operations:
Basic	$	0.43	$	(0.61)
Diluted	$	0.43	$	(0.61)

For the three months ended March 31, 2015, all potential common stock equivalents, including 4.1 million shares underlying stock options outstanding and 0.3 million shares of restricted stock outstanding, were excluded as the effect would be anti-dilutive.