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Earnings Per Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
COMMON STOCK AND EARNINGS PER SHARE
Earnings per Share
The calculation of basic and diluted earnings per common share are as follows (in thousands, except per share amounts):
 
Three Months Ending
 
Nine Months Ending
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
Numerator:
 
 
 
 
 
 
 
Earnings (loss) from continuing operations - basic
$
32,933

 
$
(28,229
)
 
$
73,079

 
$
(72,351
)
Gain from stock warrants revaluation, net of tax
(16,801
)
 
—

 
(24,274
)
 
—

Earnings (loss) from continuing operations - diluted
$
16,132

 
$
(28,229
)
 
$
48,805

 
$
(72,351
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted-average shares outstanding for basic earnings per share
58,739

 
58,733

 
58,773

 
58,965

Common equivalent shares:
 
 
 
 
 
 
 
Effect of stock-based compensation awards and warrants
9,584

 
—

 
9,856

 
—

Weighted-average shares outstanding assuming dilution
68,323

 
58,733

 
68,629

 
58,965

Basic earnings per share from continuing operations
$
0.56

 
$
(0.48
)
 
$
1.24

 
$
(1.23
)
Diluted earnings per share from continuing operations
$
0.24

 
$
(0.48
)
 
$
0.71

 
$
(1.23
)

The determination of diluted earnings per share requires the exclusion of the fair value re-measurement of the stock warrants recorded as a liability (see Note B), if such warrants have a anti-dilutive effect on earnings per share. The dilutive effect of the weighted-average diluted shares outstanding is calculated using the treasury method for periods in which equivalent shares have a dilutive effect on earnings per share. Under this method, the number of diluted shares is determined by dividing the assumed proceeds of the warrants recorded as a liability by the average stock price during the period and comparing that amount with the number of corresponding warrants outstanding.
The underlying warrants recorded as a liability as of September 30, 2018 and 2017, could result in 14.8 million and 14.9 million additional shares of the Company's common stock if the warrants are settled by tendering cash, respectively.
The number of equivalent shares that were not included in weighted average shares outstanding assuming dilution, because their effect would have been anti-dilutive, were 9.9 million and 8.1 million for the three and nine month periods ended September 30, 2017, respectively.