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Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

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 net income per common share for the three and six months ended June 30, 2016 and 2015 (in thousands, except per share data):





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

For the three months

 

For the six months



 

ended June 30,

 

ended June 30,



 

2016

 

2015

 

2016

 

2015

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

 32,711 

 

$

 28,305 

 

$

 86,348 

 

$

 (50,725)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding

 

 

 125,125 

 

 

 128,809 

 

 

 125,261 

 

 

 129,021 

Dilutive impact of stock options and restricted shares

 

 

 658 

 

 

 1,139 

 

 

 660 

 

 

 —

Diluted weighted-average shares outstanding

 

 

 125,783 

 

 

 129,948 

 

 

 125,921 

 

 

 129,021 

Net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 0.26 

 

$

 0.22 

 

$

 0.69 

 

$

 (0.39)

Diluted

 

$

 0.26 

 

$

 0.22 

 

$

 0.69 

 

$

 (0.39)



For the three and six months ended June 30, 2016, the diluted weighted average number of common shares outstanding excluded an additional 0.7 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive. 



For the three months ended June 30, 2015, the diluted weighted average number of common shares outstanding excluded an additional 1.1 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive. For the six months ended June 30, 2015, all potential common stock equivalents, including 4.0 million shares of stock options outstanding and 0.3 million shares of restricted stock outstanding, were excluded as the effect would be anti-dilutive.