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LOSS PER SHARE
9 Months Ended
Sep. 30, 2016
EARNINGS PER SHARE  
LOSS PER SHARE
4. LOSS PER SHARE

 

Basic and diluted loss per share are computed by dividing net loss by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. Restricted shares of common stock (participating securities) outstanding and a reconciliation of weighted average shares outstanding is as follows:

 

    Three months ended
September 30
    Nine months ended
September 30
 
(In thousands)   2016     2015     2016     2015  
Net loss available for stockholders:   $ (38,942 )   $ (35,173 )   $ (120,139 )   $ (61,680 )
Less: Adjustments for losses attributable to participating securities     -       -       -       (240 )
Net loss used in calculating losses per share   $ (38,942 )   $ (35,173 )   $ (120,139 )   $ (61,920 )
                                 
Weighted average shares outstanding (including participating securities)     217,531       213,679       217,511       213,617  
Adjustment for participating securities     (3,265 )     (3,337 )     (3,298 )     (3,373 )
Shares used in calculating basic losses per share     214,266       210,342       214,213       210,244  
Dilutive effect of stock based awards     -       -       -       -  
Shares used in calculating diluted losses per share     214,266       210,342       214,213       210,244