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Earnings per Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share
 
The below table contains a reconciliation of net income before noncontrolling interest to net income available for common stockholders:
 
 
Years Ended December 31,
(in thousands)
 
2018
 
2017
 
2016
Income (loss) before income taxes and noncontrolling interest
 
$
696,363

 
$
113,164

 
179,591

Provision for (benefit from) income taxes
 
76,171

 
94,266

 
21,251

Net income
 
620,192

 
18,898

 
158,340

 
 
 
 
 
 
 
Noncontrolling interest
 
(330,751
)
 
(15,959
)
 
(125,360
)
 
 
 
 
 
 
 
Net income (loss) available for common stockholders
 
$
289,441

 
$
2,939

 
$
32,980


 
The calculation of basic and diluted earnings per share is presented below:
 
 
Years Ended December 31,
(in thousands, except for share or per share data)
 
2018
 
2017
 
2016
Basic earnings per share:
 
 
 
 
 
 
Net income (loss) available for common stockholders
 
$
289,441

 
$
2,939

 
$
32,980

 
 
 
 
 
 
 
Less: Dividends and undistributed earnings allocated to participating securities
 
(5,418
)
 
(1,326
)
 
(809
)
Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities
 
284,023

 
1,613

 
32,171

 
 
 
 
 
 
 
Weighted average shares of common stock outstanding:
 
 
 
 
 
 
Class A
 
100,875,793

 
62,579,147

 
38,539,091

 
 
 
 
 
 
 
Basic earnings per share
 
$
2.82

 
$
0.03

 
0.83


 
 
Years Ended December 31,
(in thousands, except for share or per share data)
 
2018
 
2017
 
2016
Diluted earnings per share:
 
 
 
 
 
 
Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities
 
$
284,023

 
$
1,613

 
$
32,171

 
 
 
 
 
 
 
Weighted average shares of common stock outstanding:
 
 
 
 
 
 
Class A
 
 
 
 
 
 
Issued and outstanding
 
100,875,793

 
62,579,147

 
38,539,091

Issuable pursuant to Amended and Restated 2015 Management Incentive Plan (1)
 
1,213,346

 
—

 
—

 
 
102,089,139

 
62,579,147

 
38,539,091

 
 
 
 
 
 
 
Diluted earnings per share
 
$
2.78

 
$
0.03

 
$
0.83

 
(1)
The dilutive impact of unexercised stock options excludes from the computation of EPS 1,740,630 and 743,096 options for the years ended December 31, 2017 and 2016, respectively, because inclusion of the options would have been anti-dilutive.