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EARNINGS (LOSS) PER SHARE
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE
The following are computations of basic and diluted earnings (loss) per share (in thousands except for per share amounts):
 
Years Ended December 31,
 
2015
 
2014
 
2013
Numerator for basic and diluted earnings (loss) per share:
 
 
 
 
 
Net income (loss)
$
44,102

 
$
(28,328
)
 
$
95,566

Denominator:
 
 
 
 
 
  Weighted basic shares outstanding
58,324

 
60,311

 
60,574

  Dilutive effect of equity-based compensation awards
110

 
—

 
154

  Weighted dilutive shares outstanding
58,434

 
60,311

 
60,728


 
 
 
 
 
Basic earnings (loss) per share
$
0.76

 
$
(0.47
)
 
$
1.58

Diluted earnings (loss) per share
$
0.76

 
$
(0.47
)
 
$
1.57


For the year ended December 31, 2015, the dilutive effect of all then outstanding stock options, restricted stock awards and performance awards is included in the EPS calculations above except for 154,577 of outstanding performance stock awards for which the performance criteria were not attained at that time and 31,656 restricted stock awards which were excluded from the calculation of diluted earnings per share as their inclusion would have an antidilutive effect. As a result of the net loss
(12) EARNINGS (LOSS) PER SHARE (Continued)
reported for the year ended December 31, 2014, all outstanding stock options, restricted stock awards and performance awards totaling 562,896 were excluded from the calculation of diluted earnings per share as their inclusion would have an antidilutive effect. For the year ended December 31, 2013, the dilutive effect of all then outstanding stock options, restricted stock awards and performance awards is included in the EPS calculations above except for 109,861 outstanding performance stock awards, respectively, for which the performance criteria were not attained at that time.