Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is based on the weighted average number of common shares issued and outstanding during each period. Diluted earnings (loss) per share is based on the weighted average number of common shares issued and outstanding and the effect of all dilutive common stock equivalents outstanding during each period. Stock option conversions and stock units were not included in the computation of diluted loss per share for the year ended December 31, 2014 as we incurred a loss for this period and any effect on loss per share would have been anti-dilutive. All applicable share data and per share amounts for the year ended December 31, 2012 has been adjusted retroactively for the 1-for-2 reverse stock split effected on August 26, 2013. The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings (loss) per share:

	Year Ended December 31
	2014			2013		2012
	(In thousands, except share data)
Basic earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	(20,187	)	$	325,359	$	23,815
Denominator:
Average common shares	93,916,656			93,785,611		92,375,378
Basic earnings (loss) per share from continuing operations	$	(0.22	)	$	3.47	$	0.26
Diluted earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	(20,187	)	$	325,359	$	23,815
Denominator:
Average common shares — basic	93,916,656			93,785,611		92,375,378
Stock option conversion(1)	—			670,485		245,911
Stock units(2)	—			340,140		444,623
Average common shares — diluted	93,916,656			94,796,236		93,065,912
Diluted earnings (loss) per share from continuing operations	$	(0.22	)	$	3.43	$	0.26
(1) Anti-dilutive options excluded	3,840,637			3,554,064		7,099,437
(2) Anti-dilutive stock units excluded	312,971			7,071		8,192