EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2015

NOTE 2 EARNINGS PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted‑average number of common shares outstanding. Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of all potentially dilutive common shares. The dilutive effect of options and nonvested stock issued under stock‑based compensation plans is computed using the “treasury stock” method. The dilutive effect of the Sponsors Warrants and Management Warrants is computed using the if‑converted method. Gains associated with the changes in the fair value of the Sponsors Warrants and Management Warrants are excluded from the numerator in computing diluted earnings per share because inclusion of such gains in the computation would be anti‑dilutive.

Information related to our EPS calculations is summarized as follows:


	Year ended December 31,
(In thousands, except per share amounts)	2015		2014		2013
Basic EPS:
Numerator:
Net income (loss)	$	126,719	$	(23,520)	$	(73,695)
Net income attributable to noncontrolling interests		—		(11)		(95)
Net income (loss) attributable to common stockholders	$	126,719	$	(23,531)	$	(73,790)

Denominator:
Weighted average basic common shares outstanding		39,470		39,464		39,449

Diluted EPS:
Numerator:
Net income (loss) attributable to common stockholders	$	126,719	$	(23,531)	$	(73,790)
Less: Warrant liability gain		(58,320)		—		—
Adjusted net income (loss) attributable to common stockholders	$	68,399	$	(23,531)	$	(73,790)

Denominator:
Weighted average basic common shares outstanding		39,470		39,464		39,449
Restricted stock and stock options		411		—		—
Warrants		2,873		—		—
Weighted average diluted common shares outstanding		42,754		39,464		39,449


Basic income (loss) per share:	$	3.21	$	(0.60)	$	(1.87)


Diluted income (loss) per share:	$	1.60	$	(0.60)	$	(1.87)

The diluted EPS computation as of December 31, 2015 excludes 141,776 stock options as their inclusion would have been anti‑dilutive.

The diluted EPS computation as of December 31, 2014 excludes 1,046,940 stock options, 172,690 shares of restricted stock, 1,916,667 shares of common stock underlying the Sponsor Warrants and 2,862,687 shares of common stock underlying the Management Warrants because their inclusion would have been anti‑dilutive.

The diluted EPS computation as of December 31, 2013 excludes 965,440 stock options, 122,334 shares of restricted stock, 1,916,667 shares of common stock underlying the Sponsor Warrants, and 2,862,687 shares of common stock underlying the Management Warrants because their inclusion would have been anti‑dilutive.