Income (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Computation of Basic and Diluted Net Income (Loss) Per Common Share

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss)	$	133,551		$	(33,763	)	$	133,701		$	(26,697	)
Adjustments for basic net income (loss) per common share:
Dividend requirements on Series E Redeemable Preferred		(7,372	)		—			(22,351	)		—
Dividend and dividend requirements on Series B Preferred		(60	)		—			(180	)		(240	)
Dividend and dividend requirements on Series D Preferred		(15	)		—			(45	)		(60	)
Accretion of Series E Redeemable Preferred		(12,137	)		—			(16,620	)		—
Net income attributable to participating securities		(1,920	)		—			(1,718	)		—
Numerator for basic net income (loss) per common share - net income (loss) attributable to common stockholders		112,047			(33,763	)		92,787			(26,997	)
Dividends on convertible preferred stocks assumed to be converted, if dilutive		—			—			—			—
Numerator for diluted net income (loss) per common share	$	112,047		$	(33,763	)	$	92,787		$	(26,997	)

Denominator:
Denominator for basic net income (loss) per common share - weighted- average shares (1)		27,075,629			22,799,007			24,926,471			22,741,012
Effect of dilutive securities:
Stock options		—			—			—			—
Dilutive potential common shares		—			—			—			—

Denominator for dilutive net income (loss) per common share - adjusted weighted-average shares and assumed conversions		27,075,629			22,799,007			24,926,471			22,741,012

Basic net income (loss) per common share:
Loss from continuing operations	$	(2.25	)	$	(1.60	)	$	(4.17	)	$	(1.56	)
Income from discontinued operations, net of taxes		6.39			0.12			7.89			0.37
Net income (loss)	$	4.14		$	(1.48	)	$	3.72		$	(1.19	)

Diluted net income (loss) per common share:
Loss from continuing operations	$	(2.25	)	$	(1.60	)	$	(4.17	)	$	(1.56	)
Income from discontinued operations, net of taxes		6.39			0.12			7.89			0.37
Net income (loss)	$	4.14		$	(1.48	)	$	3.72		$	(1.19	)

(1)	Excludes the weighted-average shares of unvested restricted stock that are contingently returnable during the three and nine months ended September 30, 2016.

Antidilutive Securities Excluded from Computation of Earnings Per Share

The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Convertible preferred stocks		916,666		916,666		916,666		916,666
Stock options		313,853		905,257		456,618		897,690
Restricted stock and stock units		921,669		—		914,956		—
Series E Redeemable Preferred - embedded derivative		436,323		—		449,543		—
		2,588,511		1,821,923		2,737,783		1,814,356