EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

Basic earnings per share (“EPS”) is computed by dividing net income 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 non-vested stock issued under stock‑based compensation plans is computed using the treasury stock method. The dilutive effect of the warrants is computed using the if‑converted method.

Information related to the Company's EPS calculations is summarized as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands, except per share amounts)	2019		2018			2019		2018
Basic EPS:
Numerator:
Net income (loss)	$	13,328	$	(5,879	)	$	45,253	$	(4,045	)
Net loss attributable to noncontrolling interests	149		791			45		431
Net income (loss) attributable to common stockholders	$	13,477	$	(5,088	)	$	45,298	$	(3,614	)

Denominator:
Weighted-average basic common shares outstanding	43,113		42,573			43,109		43,014

Diluted EPS:
Numerator:
Net income attributable to common stockholders	$	13,477	$	(5,088	)	$	45,298	$	(3,614	)

Denominator:
Weighted-average basic common shares outstanding	43,113		42,573			43,109		43,014
Restricted stock and stock options	158		212			154		215
Warrants	—		157			—		157
Weighted-average diluted common shares outstanding	43,271		42,942			43,263		43,386

Basic income per share:	$	0.31	$	(0.12	)	$	1.05	$	(0.08	)

Diluted income per share:	$	0.31	$	(0.12	)	$	1.05	$	(0.08	)

The diluted EPS computation for the three and six months ended June 30, 2019 excludes 569,408 stock options because their inclusion would have been anti-dilutive. The diluted EPS computation for the three and six months ended June 30, 2019 excludes 278,379 shares of restricted stock because performance conditions provided for in the restricted stock awards have not been satisfied.

The diluted EPS computation for the three and six months ended June 30, 2018 excludes 374,500 and 413,000 stock options, respectively, because their inclusion would have been anti-dilutive. The diluted EPS computation for the three and six months ended June 30, 2018 excludes 233,721 shares of restricted stock because performance conditions provided for in the restricted stock awards have not been satisfied.