Net Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2016

Basic earnings (loss) per common share are determined by dividing net income or loss applicable to common stock by the weighted average number of common shares actually outstanding during the year. Diluted income or loss per common share is based on the increased number of shares that would be outstanding assuming conversion of dilutive outstanding securities using the “as if converted” method. The following table sets forth the computation of basic and diluted loss per share (in thousands, except share data):



	Predecessor
	Years ended December 31,
	2016			2015			2014
Numerator (both basic and diluted):
Net loss available to common stockholders	$	(123,373	)	$	(241,745	)	$	(8,341	)
Denominator:
Denominator for basic earnings per share	41,998,669			40,505,429			41,165,940
Denominator for diluted earnings per share	41,998,669			40,505,429			41,165,940

Basic loss per common share:	$	(2.94	)	$	(5.97	)	$	(0.20	)

Diluted loss per common share:	$	(2.94	)	$	(5.97	)	$	(0.20	)

The Company has issued potentially dilutive instruments such as unvested restricted stock and common stock options. However, the Company did not include these instruments in its calculation of diluted loss per share during the periods presented, because to include them would be anti-dilutive. The following shows potentially dilutive instruments:



	Predecessor
	Years ended December 31,
	2016	2015	2014
Stock options	—	26,527	159,888
Unvested restricted stock	211,363	643,351	967,200
	211,363	669,878	1,127,088