| Net Income per Share |
Net (Loss) Income per Share
The computation of the Company's basic and diluted net (loss) income per share is as follows: | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | 2017 | | 2016 | | 2017 | | 2016 | | (In thousands, except per share data) | Numerator for basic and diluted (loss) income per common share: | |
| | |
| | | | | Net (loss) income | $ | (451,718 | ) | | $ | 24,273 |
| | $ | (416,075 | ) | | $ | 76,645 |
| Less: Net loss (income) allocated to unvested participating restricted stock | 8,496 |
| | (338 | ) | | 6,921 |
| | (1,103 | ) | Net (loss) income available to common stockholders - basic | (443,222 | ) | | 23,935 |
| | (409,154 | ) | | 75,542 |
| Effect of unvested participating restricted stock in two-class calculation | — |
| | 1 |
| | 5 |
| | 3 |
| Net (loss) income available to common stockholders - diluted | $ | (443,222 | ) | | $ | 23,936 |
| | $ | (409,149 | ) | | $ | 75,545 |
| Denominator: | |
| | |
| | | | | Weighted average outstanding shares of common stock - basic | 17,742 |
| | 17,950 |
| | 17,718 |
| | 18,099 |
| Dilutive effect of stock options | — |
| | 91 |
| | — |
| | 102 |
| Weighted average outstanding shares of common stock - diluted | 17,742 |
| | 18,041 |
| | 17,718 |
| | 18,201 |
| Net (loss) income per common share: | |
| | |
| | | | | Basic | $ | (24.98 | ) | | $ | 1.33 |
| | $ | (23.09 | ) | | $ | 4.17 |
| Diluted | $ | (24.98 | ) | | $ | 1.33 |
| | $ | (23.09 | ) | | $ | 4.15 |
|
For the three and nine months ended September 30, 2017, diluted loss per common share was computed using the weighted average number of shares outstanding during each period as the 1,000 and 11,000 shares, respectively, from common stock equivalents would have been antidilutive. |