Earnings per Share

3 Months Ended

Mar. 31, 2016

The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings per share for the periods presented:



	Three Months Ended
	March 31,
	2016			2015
Net loss	$	(33,473	)	$	(57,165	)
Less: Preferred stock dividends ¹	(3,152		)	(6,067		)
Net loss attributable to common shareholders – basic and diluted	$	(36,625	)	$	(63,232	)

Weighted-average shares – basic	85,941			71,820
Effect of dilutive securities ²	—			—
Weighted-average shares – diluted	85,941			71,820

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1 Preferred stock dividends were excluded from the computation of diluted earnings per share for the three months ended March 31, 2016 and 2015, as the assumed conversion of the outstanding preferred stock would have been anti-dilutive.

² For the three months ended March 31, 2016 and 2015, approximately 27.6 million and 31.3 million, respectively, of potentially dilutive securities, including the Series A Preferred Stock and Series B Preferred Stock, stock options and restricted stock units, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per common share.