Net Loss Per Share

3 Months Ended

Mar. 31, 2017

(12) Net Loss Per Share:

The reconciliation of the net loss per share calculation is as follows:



	For the three months ended
	March 31,

($ in millions and shares in thousands, except per share amounts)	2017		2016

Net loss used for basic and diluted loss
per share:
Net loss attributable to Frontier common shareholders	$	(129)	$	(240)
Less: Dividends paid on unvested restricted stock awards		(1)		(1)
Total basic and diluted net loss
attributable to Frontier common shareholders	$	(130)	$	(241)

Basic loss per share:
Total weighted average shares and unvested restricted stock
awards outstanding - basic		1,173,662		1,170,422
Less: Weighted average unvested restricted stock awards		(9,923)		(6,381)
Total weighted average shares outstanding - basic		1,163,739		1,164,041

Basic net loss per share
attributable to Frontier common shareholders	$	(0.11)	$	(0.21)

Diluted loss per share:
Total weighted average shares outstanding - basic		1,163,739		1,164,041
Effect of dilutive shares		-		-
Total weighted average shares outstanding - diluted		1,163,739		1,164,041

Diluted net loss per share
attributable to Frontier common shareholders	$	(0.11)	$	(0.21)

In calculating diluted net loss per common share for the three months ended March 31, 2017 and 2016, the effect of all common stock equivalents is excluded from the computation as the effect would be antidilutive.

Stock Options

For the three months ended March 31, 2017 and 2016, options to purchase 40,000 and 50,000 shares, respectively, issuable under employee compensation plans were excluded from the computation of diluted earnings (loss) per share (EPS) for those periods because the exercise prices were greater than the average market price of our common stock and, therefore, the effect would be antidilutive.

Stock Units

At March 31, 2017 and 2016, we had 2,095,000 and 1,537,000 stock units, respectively, issued under the Non-Employee Directors’ Deferred Fee Equity Plan (Deferred Fee Plan), the Non-Employee Directors’ Equity Incentive Plan (Directors’ Equity Plan) and the 2013 Equity Incentive Plan. These securities have not been included in the diluted EPS calculation because their inclusion would have an antidilutive effect. Compensation costs associated with the issuance of stock units were $(2) million and $2 million for the three months ended March 31, 2017 and 2016, respectively.

Mandatory Convertible Preferred Stock

The impact of the common share equivalents associated with the 19,250,000 shares of Series A Preferred stock were not included in the diluted EPS calculation as of March 31, 2017 and 2016, as their impact was antidilutive.