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Net Income per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
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.