Earnings per Share Earnings per Share (Notes)

12 Months Ended

Dec. 31, 2017

Earnings per Share

Net income is divided by the weighted average number of common shares outstanding during the year to calculate basic earnings per share. Diluted earnings per share is calculated to give effect to stock options and restricted share awards. For the years ended December 31, 2016 and 2015, no restricted shares or stock options were included in the computation of net income (loss) per share because to do so would be anti-dilutive. Restricted shares of 726,936, 645,660, and 765,314 and options to purchase 206,854, 206,854, and 206,123 shares of common stock were outstanding at December 31, 2017, 2016, and 2015, respectively. The following table summarizes the dilutive effect of restricted shares and options to purchase common stock:



	Year ended December 31,
	2017	2016	2015
Weighted average common shares—basic	45,682,627	45,407,316	45,123,626
Dilutive effect of restricted share awards	241,974	—	—
Dilutive effect of stock options	65,651	—	—
Weighted average common shares—diluted	45,990,252	45,407,316	45,123,626