Earnings Per Share

6 Months Ended

Jun. 30, 2016

EARNINGS PER SHARE

Basic earnings per share attributable to common stockholders is computed by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share attributable to common stockholders reflects the potential dilution that could occur if the Company’s dilutive outstanding stock options or nonvested shares were exercised or vested, the contingently issuable shares were issued and the Company’s convertible debt was converted. The Company currently has only one class of shares of capital stock outstanding.

No adjustment was made to reported net loss attributable to common stockholders when calculating diluted loss per share attributable to common stockholders for the three months ended June 30, 2015 and for the six months ended June 30, 2016 and 2015 because the Company reported a consolidated net loss attributable to common stockholders and inclusion of these shares would have been anti-dilutive. Potential dilutive common shares include those associated with outstanding stock options, restricted stock units, performance shares and convertible debentures.

The following table shows the reconciliation of the computation of basic and diluted shares and the related impact on income for the three months ended June 30, 2016:



	Three Months Ended
	June 30, 2016
(In thousands, except per share amounts)	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share Amount
Basic EPS
Net income attributable to common stockholders	$	784	121,074	$	0.01
Effect of Dilutive Securities
Stock options	—		1
Nonvested shares	—		72
Contingently issuable shares	—		233
Diluted EPS
Net income attributable to common stockholders	$	784	121,380	$	0.01

The following table shows the shares that were excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2016 and 2015:



	Three Months Ended		Six Months Ended
	June 30,		June 30,
(In thousands)	2016	2015	2016	2015
Stock options	—	6	1	7
Restricted stock units	8	26	136	61
Performance shares	159	143	328	136
1.875% Convertible debentures, net of tax	22	95	22	95
1.75% Convertible debentures, net of tax	30,413	36,003	30,413	36,003