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(Losses) earnings per share (Tables)
12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted EPS
The calculations of basic and diluted EPS are as follows ($ in thousands):
 
Year Ended December 31,
 
2017
 
2016
 
2015
Numerator:
 
 
 
 
 
Net (loss) income
$
(241
)
 
$
20,216

 
$
9,711

Non-cash dividend to warrant holders
(879
)
 

 

Convertible Preferred Share dividends
(7,922
)
 
(43,676
)
 
(39,657
)
Allocation of undistributed earnings to preferred shareholders (1)

 

 

Numerator for basic EPS - loss available to ordinary shareholders
(9,042
)
 
(23,460
)
 
(29,946
)
Add back convertible Preferred Share dividends (2)

 

 

Add back of undistributed earnings to preferred shareholders (2)

 

 

Numerator for diluted EPS - loss available to ordinary shareholders after assumed conversions
$
(9,042
)
 
$
(23,460
)
 
$
(29,946
)
Denominator:
 
 
 
 
 
Denominator for basic EPS-weighted shares
96,896,498

 
50,481,822

 
50,481,822

Effect of dilutive securities:
 
 
 
 
 
Unvested restricted share awards

 

 

Convertible Preferred Shares

 

 

Denominator for diluted EPS - adjusted weighted-average shares
96,896,498

 
50,481,822

 
50,481,822

 
 
 
 
 
 
EPS - Basic
$
(0.09
)
 
$
(0.46
)
 
$
(0.59
)
EPS - Diluted
$
(0.09
)
 
$
(0.46
)
 
$
(0.59
)
________
(1) For the years ended December 31, 2017, 2016 and 2015, no undistributed earnings were allocated to the preferred shareholders of our Predecessor as we had undistributed losses after deducting preferred shareholder dividends of our Predecessor from net income.
(2) For the years ended December 31, 2017, 2016 and 2015, cumulative preferred shareholder dividends of our Predecessor of $7.9 million, $43.7 million and $39.7 million, respectively, were not added back for purposes of calculating diluted EPS - (loss) income available to ordinary shareholders because the effect of treating our Predecessor's Preferred Shares as if they had been converted to their 7,898,432; 40,652,679 and 37,646,499 ordinary share equivalents as of January 1, 2017, 2016, and 2015 respectively, was anti-dilutive.