Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings (Loss) Per Share

Schedule of reconciliation of net income (loss) to preferred shareholders, common shareholders, and non-vested restricted shareholders for purposes of computing net income (loss) per share

The following table (in thousands, except per share amounts) provides a reconciliation of net income (loss) to preferred shareholders, common shareholders, and non-vested restricted shareholders for purposes of computing net income (loss) per share for the three and nine months ended September 30, 2014 and 2013, respectively:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net income (loss)	$	74,597		$	(23,606	)	$	(11,145	)	$	(28,217	)
Preferred Dividend (1)	(1,908		)	(2,569		)	(9,334		)	(9,254		)
Net income (loss) attributable to shareholders	$	72,689		$	(26,175	)	$	(20,479	)	$	(37,471	)
Participating securities - Series A Preferred Stock	(23,973		)	—			—			—
Participating securities - Non-vested Restricted Stock	(2,524		)	—			—			—
Net income (loss) attributable to common shareholders	$	46,192		$	(26,175	)	$	(20,479	)	$	(37,471	)
Weighted average shares outstanding	66,598			65,821			66,340			65,740
Net income (loss) per share	$	0.69		$	(0.40	)	$	(0.31	)	$	(0.57	)

(1) Calculation of the preferred stock dividend is discussed in Note 10.