Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2016

10. Earnings (Loss) Per Share

Basic earnings (loss) per share is computed on the basis of weighted average outstanding common shares. Diluted earnings (loss) per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options and other outstanding dilutive securities.

The following table reconciles the average share amounts used to compute both basic and diluted earnings (loss) per share (in thousands):


	Three Months Ended March 31,
	2016		2015
Weighted average shares outstanding:
Basic weighted average shares outstanding		118,679		115,855
Add: Dilutive effect of stock options		1,259		—

Diluted weighted average shares outstanding		119,938		115,855

The diluted earnings (loss) per share computation excludes 5.3 million and 8.5 million options to purchase shares, restricted share awards, and contingently issuable shares during the three months ended March 31, 2016 and 2015, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of March 31, 2016 and December 31, 2015 was 116,702,046 and 119,033,770, respectively.