Income (loss) per Common Share (Tables)

12 Months Ended

Dec. 31, 2018

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

The following table sets forth the computation of basic and diluted net income (loss) per common share:

	2018			2017			2016
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss):	$	(72,226	)	$	(29,217	)	$	112,168
Adjustments for basic net income (loss) per common share:
Dividend requirements on Series E Redeemable Preferred		(26,840	)		(23,443	)		(27,761	)
Dividend requirements on Series B Preferred		(240	)		(240	)		(240	)
Dividend requirements on Series D Preferred		(60	)		(60	)		(60	)
Accretion of Series E Redeemable Preferred		(3,375	)		(6,487	)		(18,256	)
Net income attributable to participating securities		—			—			(1,091	)
Numerator for basic and dilutive net income (loss) per common share - net income (loss) attributable to common stockholders	$	(102,741	)	$	(59,447	)	$	64,760

Denominator:
Denominator for basic and dilutive net income (loss) per common share - adjusted weighted-average shares (1)		27,490,717			27,250,876			25,454,311

Basic and dilutive net income (loss) per common share:
Loss from continuing operations	$	(3.74	)	$	(2.22	)	$	(5.28	)
Income from discontinued operations, net of taxes		—			0.04			7.82
Net income (loss)	$	(3.74	)	$	(2.18	)	$	2.54

(1)

All periods exclude the weighted-average shares of unvested restricted stock that are contingently returnable.

Antidilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Common 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:

	2018		2017		2016
Convertible preferred stocks		916,666		916,666		916,666
Restricted stock and stock units		1,183,622		1,187,525		908,568
Series E redeemable preferred stock - embedded derivative		303,646		303,646		412,869
Stock options		175,454		215,067		361,168
		2,579,388		2,622,904		2,599,271