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Summary Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Data

Unaudited summary quarterly financial data for the years ended December 31, 2016 and 2015 was as follows:

 

 

 

2016

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter(a)

 

 

Quarter

 

 

Quarter

 

 

Quarter (b)

 

 

 

(Unaudited)

 

Total revenues

 

$

220,241

 

 

$

371,136

 

 

$

485,318

 

 

$

267,597

 

Operating (loss) income

 

$

(119,567

)

 

$

38,050

 

 

$

152,641

 

 

$

(11,539

)

Net (loss) income

 

$

(84,049

)

 

$

17,768

 

 

$

65,655

 

 

$

(11,905

)

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(1.00

)

 

$

0.21

 

 

$

0.77

 

 

$

(0.14

)

Net (loss) income per share, diluted

 

$

(1.00

)

 

$

0.21

 

 

$

0.77

 

 

$

(0.14

)

 

 

 

2015

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter (c)

 

 

Quarter

 

 

Quarter(d)

 

 

 

(Unaudited)

 

Total revenues

 

$

214,592

 

 

$

391,616

 

 

$

496,939

 

 

$

267,857

 

Operating (loss) income

 

$

(50,199

)

 

$

45,750

 

 

$

170,860

 

 

$

(6,975

)

Net (loss) income

 

$

(43,598

)

 

$

5,809

 

 

$

97,950

 

 

$

(11,028

)

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(0.51

)

 

$

0.07

 

 

$

1.14

 

 

$

(0.13

)

Net (loss) income per share, diluted

 

$

(0.51

)

 

$

0.07

 

 

$

1.14

 

 

$

(0.13

)

 

(a)

During the first quarter of 2016, the Company recorded $27,516 in equity compensation expense related to certain of the Company’s performance-vesting restricted shares (the “2.25x Performance Restricted shares”) which became probable of vesting during the first quarter and vested on April 1, 2016.  See Note 18–Equity-Based Compensation for further details.

(b)

During the fourth quarter of 2016, the Company recorded $8,904 in restructuring and other related costs primarily related to severance costs and other employment expenses. See Note 4–Restructuring Programs and Separation Costs for further details.

(c)

During the second quarter of 2015, the Company recorded $20,348 in loss on early extinguishment of debt and write-off of discounts and debt issuance costs related to the early redemption of $260,000 of its then existing Senior Notes.  See Note 11–Long-Term Debt for further details.

(d)

During the fourth quarter of 2015, the Company recorded $2,001 in restructuring and other related costs primarily related to severance costs for certain positions which were eliminated as part of a cost savings initiative. See Note 4–Restructuring Programs and Separation Costs for further details.