Net Loss Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Net Loss Per Share

A reconciliation of the basic and diluted net loss per share computations for the three and nine months ended September 30, 2015 and 2014, respectively, is as follows (in thousands, except per share data):

	For the three months ended September 30,
	2015			2014
Numerator:
Net loss	$	(158,643	)	$	(98,902	)
Denominator:
Average number of common shares outstanding (1)	80,948			66,952
Basic and diluted net loss per share	$	(1.96	)	$	(1.48	)

	For the nine months ended September 30,
	2015			2014
Numerator:
Net loss	$	(2,693,903	)	$	(342,471	)
Denominator:
Average number of common shares outstanding (1)	78,290			64,986
Basic and diluted net loss per share	$	(34.41	)	$	(5.27	)

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(1) Basic earnings per share is computed by dividing net loss by the average number of common shares outstanding during the reporting period. In periods of net loss, the number of shares used to calculate diluted earnings per share is the same as basic earnings per share; therefore, the effect of dilutive securities is zero for such periods. The weighted average number of stock options and restricted stock units outstanding for the three months ended September 30, 2015 and 2014 totaling 2,371,794 and 1,726,828, respectively, were excluded from the calculation above because their effect would have been anti-dilutive. Additionally, the weighted average number of stock options and restricted stock units outstanding for the nine months ended September 30, 2015 and 2014 totaling 2,341,281 and 1,437,046, respectively, were excluded from the calculation above because their effect would have been anti-dilutive.

The tables below sets forth stock options exercised and restricted stock units vested for the three and nine months ended September 30, 2015 and 2014:

	For the three months ended September 30,		For the nine months ended September 30,
	2015	2014	2015	2014
Stock options exercised	—	—	—	18,300
Restricted stock units vested	1,344	3,337	120,353	81,889
Total	1,344	3,337	120,353	100,189