EARNINGS PER SHARE (''EPS'')

3 Months Ended

Mar. 31, 2017

The computations of basic EPS are based on our weighted average shares outstanding. The basic weighted average shares of Common Stock outstanding were 84,048,000 and 97,662,000 for the three months ended March 31, 2017 and 2016, respectively. We had no dilutive securities outstanding for each of the three months ended March 31, 2017 and 2016. Outstanding shares of Series A Preferred Stock and Warrants were not included in the computation of diluted EPS for the three months ended March 31, 2017 because their impact was deemed to be anti-dilutive. No shares of Series A Preferred Stock or Warrants were outstanding during the three months ended March 31, 2016.

EPS for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS in the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding.

The following table reconciles the numerator and denominator used in computing our basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
	2017			2016
	(in thousands, except share and per share amounts)
Numerator:
Net income from continuing operations	$	193,935		$	26,293
Net income attributable to noncontrolling interests	(5		)	(3		)
Redeemable preferred stock dividends	(31		)	—
Numerator for basic and diluted net income from continuing operations available to common stockholders	193,899			26,290
Net income from discontinued operations	—			690
Numerator for basic and diluted net income available to common stockholders	$	193,899		$	26,980
Denominator:
Basic weighted average shares outstanding	84,048			97,662
Effect of dilutive securities—contingently issuable shares and stock options	—			—
Diluted weighted average shares and common stock equivalents outstanding	84,048			97,662
Basic and diluted net income available to common stockholders per share:
Continuing operations	$	2.31		$	0.27
Discontinued operations	—			0.01
Net income	$	2.31		$	0.28