Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2017

Components of Calculation of Basic and Diluted Earnings Per Share

_______________________

¹ Dividends attributable to our Series A 6% Convertible Perpetual Preferred Stock and Series B 6% Convertible Perpetual Preferred Stock (the “Series A and B Preferred Stock”) were excluded from the computation of diluted loss per share for the three months ended March 31, 2016, as their assumed conversion would have been anti-dilutive.

² The number of dilutive securities for the three months ended March 31, 2017, which is attributable to RSUs, was determined under the “treasury stock” method. The effect of PRSUs was anti-dilutive for the 2017 period. For the three months ended March 31, 2016, approximately 27.6 million of potentially dilutive securities, including the Series A 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 loss per common share.

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



	Successor		Predecessor
	Three Months		Three Months
	Ended		Ended
	March 31, 2017		March 31, 2016
Net income (loss)	$	28,407	$	(33,473	)
Less: Preferred stock dividends ¹	—		$	(3,152	)
Net income (loss) attributable to common shareholders – basic and diluted	$	28,407	$	(36,625	)

Weighted-average shares – basic	14,992		85,941
Effect of dilutive securities ²	134		—
Weighted-average shares – diluted	15,126		85,941