Earnings Per Share

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,
	2018				2017				2016
	Income			Shares	Income			Shares	Income			Shares
Basic:
Net income (loss)	$	28,598			$	30,052			$	(81,445	)
Less: Undistributed earnings allocated to participating securities	(273		)		(356		)		—
Undistributed earnings (loss) allocated to common shares	$	28,325		146,702	$	29,696		145,295	$	(81,445	)	111,612



Diluted:
Undistributed earnings (loss) allocated to common shares	$	28,325	146,702	$	29,696	145,295	$	(81,445	)	111,612
Effect of dilutive securities:
Share-based awards other than participating securities	—		128	—		5	—			—
Undistributed earnings reallocated to participating securities	1		—	—		—	—			—
Net income (loss)	$	28,326	146,830	$	29,696	145,300	$	(81,445	)	111,612

We had a net loss for the year ended December 31, 2016. Accordingly, our diluted EPS calculation for this period was equivalent to our basic EPS calculation since diluted EPS excluded any assumed exercise or conversion of common stock equivalents. These common stock equivalents were excluded because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable period. Shares that otherwise would have been included in the diluted EPS calculation assuming we had earnings are as follows (in thousands):



	Year Ended December 31,
	2016

Diluted shares (as reported)	111,612
Share-based awards	440
Total	112,052

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 as they were anti-dilutive (in thousands):



	Year Ended December 31,
	2018	2017	2016

2022 Notes	8,997	8,997	1,475
2023 Notes	10,344	—	—
2032 Notes ⁽¹⁾	524	2,403	6,891


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