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Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
EARNINGS (LOSS) PER SHARE

The following data shows the amounts used in computing earnings (loss) per share:
 
Income (Loss)
(Numerator)
 
Weighted
Shares
(Denominator)
 
Per-Share
Amount
 
(In thousands except per share amounts)
For the year ended December 31, 2015:
 
 
 
 
 
Basic loss per common share
$
(1,037,361
)
 
49,110

 
$
(21.12
)
Effect of dilutive stock options, restricted stock, and SARs
—

 
—

 
—

Diluted loss per common share
$
(1,037,361
)
 
49,110

 
$
(21.12
)
For the year ended December 31, 2016:
 
 
 
 
 
Basic loss per common share
$
(135,624
)
 
50,029

 
$
(2.71
)
Effect of dilutive stock options, restricted stock, and SARs
—

 
—

 
—

Diluted loss per common share
$
(135,624
)
 
50,029

 
$
(2.71
)
For the year ended December 31, 2017:
 
 
 
 
 
Basic earnings per common share
$
117,848

 
51,113

 
$
2.31

Effect of dilutive restricted stock
—

 
635

 
(0.03
)
Diluted earnings per common share
$
117,848

 
51,748

 
$
2.28


 
Due to the net loss for the years ended December 31, 2016 and 2015, approximately 509,000 and 186,000, respectively, weighted average shares related to stock options, restricted stock, and SARs were antidilutive and were excluded from the earnings per share calculation above.
The following options and their average exercise prices were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of our common stock for the years ended December 31:
 
2017
 
2016
 
2015
Options and SARs
87,500

 
199,755

 
261,270

Average exercise price
$
51.34

 
$
48.79

 
$
50.34