Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2016

Basic earnings (loss) per share (“EPS”) is based on the weighted average number of common shares outstanding during each period. Diluted EPS is based on the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents outstanding during each period. Stock option conversions and RSUs were not included in the computation of diluted loss per share for the nine months ended September 30, 2015 as we incurred a loss from continuing operations for this period and any effect on loss per share would have been anti-dilutive. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS:



	Three Months Ended September 30				Nine Months Ended September 30
	2016		2015		2016		2015
	(In thousands, except share data)
Basic earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	14,526	$	20,233	$	87,098	$	(26,899	)
Denominator:
Average common shares	90,423,466		93,254,547		91,076,741		93,950,693
Basic earnings (loss) per share from continuing operations	$	0.16	$	0.22	$	0.96	$	(0.29	)
Diluted earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	14,526	$	20,233	$	87,098	$	(26,899	)
Denominator:
Average common shares — basic	90,423,466		93,254,547		91,076,741		93,950,693
Stock option conversion(1)	225,789		202,974		246,096		—
RSUs(2)	316,120		358,657		372,001		—
Average common shares — diluted	90,965,375		93,816,178		91,694,838		93,950,693
Diluted earnings (loss) per share from continuing operations	$	0.16	$	0.22	$	0.95	$	(0.29	)
(1) Anti-dilutive common shares excluded	1,184,449		2,624,204		1,292,766		2,979,348
(2) Anti-dilutive stock units excluded	4,410		755		1,481		302,022