Earnings Per Share

On February 8, 2019, upon emergence from Chapter 11 bankruptcy, the Predecessor equity was canceled and new equity was issued. See "Note 2-Emergence from Chapter 11 Reorganization"and "Note 5-Equity" for further details.

A reconciliation between the basic and diluted earnings per share computations (in thousands, except per share amounts) is as follows:



For the Successor Period of February 9, 2019 through March 31, 2019	Income (Numerator)			Shares (Denominator)	Per Share Amount
BASIC EPS
Net income available to common stockholders	$	737		9,371
Attributable to participating securities	(42		)
Net income available to common stockholders	$	695		9,371	$	0.07

Net income available to common stockholders	$	737		9,371
Effect of dilutive securities:
Restricted shares	—			564
Attributable to participating securities	—			—
DILUTED EPS	$	737		9,935	$	0.07


For the Predecessor Period of January 1, 2019 through February 8, 2019	Income (Numerator)			Shares (Denominator)	Per Share Amount
BASIC EPS
Net income available to common stockholders	$	261,727		25,587
Gain on retirement of Preferred Shares	$	(14,650	)
Attributable to participating securities	(3,944		)
Net income available to common stockholders	$	243,133		25,587	$	9.50

Net income available to common stockholders	$	261,727		25,587
Gain on retirement of Preferred Shares	$	(14,650	)
Effect of dilutive securities:
Preferred shares	—			1,287
Restricted shares	(3,944		)	415
Attributable to participating securities	186			—
DILUTED EPS	$	243,319		27,289	$	8.92

For the Three Months Ended March 31, 2018	Loss (Numerator)			Shares (Denominator)	Per Share Amount
BASIC EPS
Net loss available to common stockholders	$	(2,212	)	25,540	$	(0.09	)
Restricted shares	—			—
Attributable to participating securities	—			—
DILUTED EPS	$	(2,212	)	25,540	$	(0.09	)

Predecessor

An aggregate of 2.0 million shares of common stock representing options to purchase common stock and unvested shares of restricted common stock and common shares issuable upon the assumed conversion of the Series B Preferred Stock totaling 1.3 million shares were not included in the computation of diluted earnings per share for the three month periods ended March 31, 2018 because the inclusion would have been anti-dilutive as a result of the net loss reported for such period. Options to purchase 1.5 million shares of common stock were outstanding during the Predecessor period of January 1, 2019 through February 8, 2019 and were not included in the computation of diluted earnings per share because the options' exercise prices were in excess of the average market price of the common shares.

Successor

Options to purchase 0.3 million shares of common stock were outstanding during the Successor period of February 9, 2019 through March 31, 2019 and were not included in the computation of diluted earnings per share because the options' exercise prices were in excess of the fair value of the common shares.