2. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share adjusts basic earnings (loss) per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted shares, each using the treasury stock method.

Due to a net loss applicable to common stockholders for the three months ended June 30, 2017, we excluded 377,389 potentially dilutive securities from the computation as their effect would be anti-dilutive.

	Three Months Ended June 30,					Six Months Ended June 30,
	2017			2016		2017		2016
Numerator — basic and diluted
Net income (loss)	$	(5,156	)	$	26,547	$	8,860	$	56,728
Denominator
Weighted average number of common shares outstanding — basic		39,555			40,820		40,039		40,663
Effect of dilutive stock options		—			316		129		223
Effect of dilutive restricted shares		—			463		334		487
Weighted average number of common shares outstanding — diluted		39,555			41,599		40,502		41,373
Earnings (loss) per common share — basic	$	(0.13	)	$	0.65	$	0.22	$	1.40
Earnings (loss) per common share — diluted	$	(0.13	)	$	0.64	$	0.22	$	1.37
Antidilutive stock options and restricted shares		1,947			1,374		1,469		2,016