Net Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2017

Basic loss per common share are determined by dividing net loss applicable to common stock by the weighted average number of common shares actually outstanding during the year. Diluted 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):



	Successor			Predecessor
	Years ended December 31,
	2017			2016			2015
Numerator (both basic and diluted):
Net loss available to common stockholders	$	(96,674	)	$	(123,373	)	$	(241,745	)
Denominator:
Denominator for basic earnings per share	26,005,870			41,998,669			40,505,429
Denominator for diluted earnings per share	26,005,870			41,998,669			40,505,429

Basic loss per common share:	$	(3.72	)	$	(2.94	)	$	(5.97	)

Diluted loss per common share:	$	(3.72	)	$	(2.94	)	$	(5.97	)

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:



	Successor	Predecessor
	Years ended December 31,
	2017	2016	2015
Stock options	654,016	—	26,527
Warrants	2,066,624	—	—
Unvested restricted stock units	16,114	211,363	643,351
	2,736,754	211,363	669,878