Earnings (Loss) Per Share

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 and stock unit conversions were not included in the computation of diluted loss per share for the three and nine months ended September 30, 2018 and 2017 as we incurred a loss from continuing operations for these periods 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
	2018			2017			2018			2017
	(In thousands, except share data)
Basic loss per share computation:
Numerator:
Loss from continuing operations	$	(26,648	)	$	(9,973	)	$	(68,929	)	$	(2,085	)
Net loss attributable to non-controlling interest	224			—			224			—
Loss from continuing operations attributable to Dean Foods Company	$	(26,424	)	$	(9,973	)	$	(68,705	)	$	(2,085	)
Denominator:
Average common shares	91,372,325			90,939,101			91,302,990			90,844,613
Basic loss per share from continuing operations attributable to Dean Foods Company	$	(0.29	)	$	(0.11	)	$	(0.75	)	$	(0.03	)
Diluted loss per share computation:
Numerator:
Loss from continuing operations	$	(26,648	)	$	(9,973	)	$	(68,929	)	$	(2,085	)
Net loss attributable to non-controlling interest	224			—			224			—
Loss from continuing operations attributable to Dean Foods Company	$	(26,424	)	$	(9,973	)	$	(68,705	)	$	(2,085	)
Denominator:
Average common shares — basic	91,372,325			90,939,101			91,302,990			90,844,613
Stock option conversion(1)	—			—			—			—
RSUs and PSUs(2)	—			—			—			—
Average common shares — diluted	91,372,325			90,939,101			91,302,990			90,844,613
Diluted loss per share from continuing operations attributable to Dean Foods Company	$	(0.29	)	$	(0.11	)	$	(0.75	)	$	(0.03	)
(1) Anti-dilutive options excluded	401,269			1,211,592			448,925			1,492,474
(2) Anti-dilutive stock units excluded	1,142,746			1,068,640			1,085,982			1,010,675