3. (LOSS) EARNINGS PER SHARE

(Loss) earnings per share is computed as follows (in thousands, except per share data):

	For the Three Months Ended June 30,														For the Six Months Ended June 30,
	2017								2016						2017								2016
	Net Loss			Shares		Per Share Amount			Net Income		Shares		Per Share Amount		Net Loss			Shares		Per Share Amount			Net Loss			Shares		Per Share Amount
Basic (loss) earnings per share	$	(175,850	)		85,745	$	(2.05	)	$	17,768		85,226	$	0.21	$	(236,979	)		85,560	$	(2.77	)	$	(66,281	)		84,533	$	(0.78	)
Effect of dilutive incentive-based awards					—							132							—								—
Diluted (loss) earnings per share	$	(175,850	)		85,745	$	(2.05	)	$	17,768		85,358	$	0.21	$	(236,979	)		85,560	$	(2.77	)	$	(66,281	)		84,533	$	(0.78	)

In accordance with the Earnings Per Share Topic of the Accounting Standards Codification (“ASC”), basic (loss) earnings per share is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period (excluding treasury stock and unvested restricted stock). The shares of unvested restricted stock are eligible to receive dividends; however, dividend rights will be forfeited if the award does not vest. Accordingly, only vested shares of outstanding restricted stock are included in the calculation of basic earnings per share. The weighted average number of repurchased shares during the period, if any, which are held as treasury stock, are excluded from shares of common stock outstanding.

Diluted (loss) earnings per share is determined using the treasury stock method based on the dilutive effect of unvested restricted stock and certain shares of common stock that are issuable upon exercise of stock options. The Company’s outstanding performance-vesting restricted share awards are considered contingently issuable shares and are excluded from the calculation of diluted earnings per share until the performance measure criteria is met as of the end of the reporting period. During the three months ended June 30, 2017, there were approximately 5,435,000 potentially dilutive shares excluded from the computation of diluted loss per share as their effect would have been anti-dilutive due to the Company’s net loss during the period. During the three months ended June 30, 2016, there were approximately 3,942,000 anti-dilutive shares of common stock excluded from the computation of diluted earnings per share. During the six months ended June 30, 2017 and 2016, the Company excluded potentially dilutive shares of approximately 5,178,000 and 4,841,000, respectively, as their effect would have been anti-dilutive due to the Company’s net loss during those periods.