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Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings (Loss) Per Share
Diluted earnings (loss) per common share is computed by dividing income (loss) by the weighted average number of shares of common stock outstanding plus outstanding common stock equivalents. Common stock equivalents consist of employee and director stock options, restricted stock awards, other share-based payment awards, and contingently issuable shares related to the Company’s 7.0% Convertible Senior Notes due December 15, 2017 (the "Convertible Notes") and the Company's 5.25% Convertible Senior Secured Notes due December 30, 2019 (the "New Convertible Notes"), which are included in the calculation of weighted average shares outstanding using the treasury stock method, if dilutive. Refer to Note 7 - Debt for further description of the Convertible Notes and New Convertible Notes.
The following table is a reconciliation of the basic and diluted earnings (loss) per common share calculations:
 
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Loss from continuing operations
$
(21,270
)
 
$
(47,095
)
 
$
(66,074
)
 
$
(62,757
)
Income from discontinued operations, net of income taxes
—

 
843

 
7,934

 
1,378

Net loss
$
(21,270
)
 
$
(46,252
)
 
$
(58,140
)
 
$
(61,379
)
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
27,793

 
23,560

 
25,709

 
23,511

Effect of dilutive securities:
 
 
 
 
 
 
 
Outstanding common stock equivalents
—

 
—

 
—

 
—

Denominator for diluted earnings (loss) per common share
27,793

 
23,560

 
25,709

 
23,511

 
 
 
 
 
 
 
 
Basic earnings (loss) per common share:
 
 
 
 
 
 
 
Continuing operations
$
(0.77
)
 
$
(2.00
)
 
$
(2.57
)
 
$
(2.67
)
Discontinued operations
—

 
0.04

 
0.31

 
0.06

Net basic loss per common share
$
(0.77
)
 
$
(1.96
)
 
$
(2.26
)
 
$
(2.61
)
 
 
 
 
 
 
 
 
Diluted earnings (loss) per common share:
 
 
 
 
 
 
 
Continuing operations
$
(0.77
)
 
$
(2.00
)
 
$
(2.57
)
 
$
(2.67
)
Discontinued operations
—

 
0.04

 
0.31

 
0.06

Net diluted loss per common share
$
(0.77
)
 
$
(1.96
)
 
$
(2.26
)
 
$
(2.61
)
Excluded outstanding share-based awards having an anti-dilutive effect
929

 
368

 
929

 
368

Excluded "in the money" portion of New Convertible Notes having an anti-dilutive effect
—

 
—

 
—

 
—


The New Convertible Notes are dilutive to the extent the Company generates net income and the average stock price during the period is greater than $2.25, which is the conversion price of the New Convertible Notes.The New Convertible Notes are only dilutive for the “in the money” portion of the New Convertible Notes that could be settled with the Company’s common stock. In future periods, absent a fundamental change (as defined in the New Convertible Notes indenture), the outstanding New Convertible Notes could increase diluted average shares outstanding by a maximum of approximately 9,900 shares. The Convertible Notes would have an insignificant impact on the diluted average shares outstanding if settled with the Company's stock.