Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2016

8. Earnings (Loss) Per Share

Basic earnings (loss) per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflect, in periods in which they have a dilutive effect, the effect of restricted stock-based awards, common shares issuable upon exercise of stock options and warrants and shares underlying convertible notes potentially issuable upon conversion. The difference between basic and diluted weighted-average common shares results from the assumption that all dilutive stock options outstanding were exercised and all convertible notes have been converted into common stock.

As of December 31, 2016, of the total potentially dilutive shares related to restricted stock-based awards, stock options and warrants, approximately 0.1 million were anti-dilutive, compared to all that were anti-dilutive as of December 31, 2015.

As of December 31, 2016, of the performance related restricted stock-based awards issued in connection with the Company’s named executive officers, less than 0.1 million were anti-dilutive compared to all that were anti-dilutive as of December 31, 2015.

For FY 2016, warrants issued in connection with the Company’s 1.50% Convertible Notes financing were anti-dilutive and therefore were not included in this calculation. For FY 2015, the 1.50% Convertible Notes and the 2.50% Convertible Notes that would be subject to conversion to common stock were anti-dilutive and therefore were not included in the calculation.

A reconciliation of weighted average shares used in calculating basic and diluted earnings per share follows:

	FY 2016		FY 2015		FY 2014
Basic		52,338		48,293		48,431
Effect of exercise of stock options		—		—		804
Effect of assuming vesting of performance related to restricted stock-based awards		—		—		212
Effect of assumed vesting of restricted stock		—		—		1,354
Effect of convertible notes subject to conversion		—		—		6,565
Diluted		52,338		48,293		57,366

In accordance with ASC 480, the Company considers its redeemable non-controlling interest in its computation of earnings per share. For each of FY 2016, FY 2015 and FY 2014, adjustments to the Company’s redeemable non-controlling interest had no impact on the Company’s earnings per share calculation.

See Note 6 for discussion of hedges related to our convertible notes.