Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Computations of basic and diluted EPS

The computations of the numerator (income) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying condensed consolidated statements of operations for the three- and nine-month periods ended September 30, 2018 are as follows (in thousands): 

	Three Months Ended September 30, 2018				Three Months Ended September 30, 2017
	Income			Shares	Income			Shares
Basic:
Net income	$	27,121			$	2,290
Less: Undistributed earnings allocated to participating securities	(260		)		(27		)
Undistributed earnings allocated to common shares	$	26,861		146,700	$	2,263		145,958
Diluted:
Undistributed earnings allocated to common shares	$	26,861		146,700	$	2,263		145,958
Effect of dilutive securities:
Share-based awards other than participating securities	—			264	—			—
Undistributed earnings reallocated to participating securities	—			—	—			—
Net income	$	26,861		146,964	$	2,263		145,958

	Nine Months Ended September 30, 2018				Nine Months Ended September 30, 2017
	Income			Shares	Income			Shares
Basic:
Net income (loss)	$	42,345			$	(20,528	)
Less: Undistributed earnings allocated to participating securities	(407		)		—
Undistributed earnings allocated to common shares	$	41,938		146,679	$	(20,528	)	145,057
Diluted:
Undistributed earnings allocated to common shares	$	41,938		146,679	$	(20,528	)	145,057
Effect of dilutive securities:
Share-based awards other than participating securities	—			82	—			—
Undistributed earnings reallocated to participating securities	—			—	—			—
Net income (loss)	$	41,938		146,761	$	(20,528	)	145,057

Schedule of shares excluded from diluted per share calculation

Shares that otherwise would have been included in the diluted per share calculations assuming we had earnings are as follows (in thousands): 

	Nine Months Ended
	September 30, 2017
Diluted shares (as reported)	145,057
Share-based awards	364
Total	145,421

In addition, the following potentially dilutive shares related to the 2022 Notes, the 2023 Notes and the 2032 Notes were excluded from the diluted EPS calculation because we have the right and the intention to settle any such future conversions in cash (Note 6) (in thousands): 

	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
2022 Notes	8,997	8,997	8,997	8,997
2023 Notes	13,202	—	9,381	—
2032 Notes (1)	—	2,403	701	2,403

(1) The 2032 Notes were fully redeemed in May 2018.