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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2015
 
2014
 
2015
 
2014
Numerator:
 

 
 

 
 

 
 

Net income (loss)
$
(60,466
)
 
$
45,689

 
$
78,786

 
$
179,474

Denominator:
 

 
 

 
 

 
 

Basic weighted average shares outstanding
73,754

 
78,817

 
74,999

 
79,779

Effect of dilutive securities - Stock options and awards
—

 
908

 
765

 
923

Diluted weighted average shares outstanding
73,754

 
79,725

 
75,764

 
80,702

Basic earnings (loss) per share
$
(0.82
)
 
$
0.58

 
$
1.05

 
$
2.25

Diluted earnings (loss) per share
$
(0.82
)
 
$
0.57

 
$
1.04

 
$
2.22


For the three months ended September 30, 2015 and 2014, common shares subject to equity-based awards of 1,279,664 and 259,336, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive. For the nine months ended September 30, 2015 and 2014, common shares subject to equity-based awards of 508,070 and 260,964, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.