Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2016

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



	Successor			Predecessor
	Period from September 13,			Period from July 1,
	2016 through September			2016 through September		Three Months Ended
	30, 2016			12, 2016		9/30/2015
Net (loss) income	$	(3,441	)	$	1,150,055	$	25,900
Less: Preferred stock dividends	—			—		$	(5,935	)
Net (loss) income attributable to common shareholders – basic	$	(3,441	)	$	1,150,055	$	19,965
Add: Preferred stock dividends	—			—		5,935
Net (loss) income attributable to common shareholders – diluted	$	(3,441	)	$	1,150,055	$	25,900

Weighted-average shares – basic	14,992			89,292		72,651
Effect of dilutive securities	—			22,166		30,801
Weighted-average shares – diluted	14,992			111,458		103,452



	Successor			Predecessor
	Period from September 13,			Period from January 1,
	2016 through September			2016 through September			Nine Months Ended
	30, 2016			12, 2016			2015
Net (loss) income	$	(3,441	)	$	1,054,602		$	(111,394	)
Less: Preferred stock dividends ¹	—			(5,972		)	(18,069		)
Net (loss) income attributable to common shareholders – basic and diluted	$	(3,441	)	$	1,048,630		$	(129,463	)

Weighted-average shares – basic	14,992			88,013			72,438
Effect of dilutive securities ²	—			36,074			—
Weighted-average shares – diluted	14,992			124,087			72,438

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¹ Preferred stock dividends were excluded from the computation of diluted earnings (loss) per share for the period January 1, 2016 through September 12, 2016 and the nine months ended September 30, 2015, as the assumed conversion of the outstanding preferred stock would have been anti-dilutive.

² For the nine months ended September 30, 2015, approximately 31.1 million 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 (loss) per common share.