Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table shows the information used in the calculation of our basic and diluted earnings per share as of December 31:

	As of December 31,		For the Period July 1, 2015 Through August 14, 2015	For the Period August 15, 2015 Through December 31, 2015
	2014	2015
	(Dollars in thousands)
Weighted average common shares         outstanding for basic calculation	135,067,278	136,155,295	137,152,430	N/A
Add: Effect of stock options and           restricted stock	—	—	—	N/A
Weighted average common shares         outstanding for diluted calculation	135,067,278	136,155,295	137,152,430	N/A

Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share are calculated by dividing net income by the sum of the weighted average number of common shares outstanding plus the additional common shares that would have been outstanding if potentially dilutive securities had been issued.

The weighted average common shares outstanding for the diluted earnings per share calculation excludes consideration of stock options covering 1,866,720 shares in 2014, 1,481,992 shares in 2015, as the exercise prices were greater than the weighted average market price of our common stock for that period.