Earnings Per Share

12 Months Ended

Dec. 31, 2015

The computations of the numerator (income) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying consolidated statements of operations are as follows (in thousands):



	Year Ended December 31,
	2015				2014				2013
	Income			Shares	Income			Shares	Income			Shares
Basic:
Continuing operations:
Net income (loss) applicable to common shareholders	$	(376,980	)		$	195,047			$	109,922
Less: Income from discontinued operations, net of tax	—				—				(1,073		)
Net income (loss) from continuing operations	(376,980		)		195,047				108,849
Less: Undistributed income allocable to participating securities – continuing operations	—				(1,018		)		(801		)
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029		105,029	$	108,048		105,032



Discontinued operations:
Income from discontinued operations, net of tax	$	—		$	—		$	1,073
Less: Undistributed income allocable to participating securities – discontinued operations	—			—			(8		)
Net income applicable to common shareholders – discontinued operations	$	—	105,416	$	—	105,029	$	1,065		105,032



Diluted:
Continuing operations:
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029	105,029	$	108,048	105,032
Effect of dilutive securities:
Share-based awards other than participating securities	—			—	—		16	—		152
Undistributed income reallocated to participating securities	—			—	—		—	1		—
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029	105,045	$	108,049	105,184

Discontinued operations:
Income from discontinued operations, net of tax	$	—		105,416	$	—	105,045	$	1,073	105,184

We had net losses from continuing operations for the year ended December 31, 2015. Accordingly, our diluted EPS calculation for 2015 was equivalent to our basic EPS calculation because it excluded any assumed exercise or conversion of common stock equivalents because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in those respective years. Shares that otherwise would have been included in the diluted per share calculations for the year ended December 31, 2015, assuming we had earnings from continuing operations, are as follows (in thousands):



	2015

Diluted shares (as reported)	105,416
Share-based awards	59
Total	105,475

In addition, approximately 8.0 million of potentially dilutive shares related to our Convertible Senior Notes Due 2032 (the “2032 Notes”) were excluded from the diluted EPS calculation for the years ended December 31, 2014 and 2013 because we have the right and the intention to settle any such future conversions in cash (Note 7).