11.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding adjusted for any dilutive Common Stock equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the “If-Converted” method and also Common Stock warrants as determined under the “Treasury Stock” method.

The following table sets forth basic and diluted net income per common share for the years ended December 31, 2017, 2016, and 2015 (in thousands, except per share data):



	For the year ended December 31,
	2017		2016		2015
Numerator:
Net income (loss)	$	103,654	$	76,238	$	(175,656)
Denominator:
Basic weighted-average shares outstanding		119,860		124,448		127,794
Dilutive impact of stock options and restricted shares		1,162		696		—
Diluted weighted-average shares outstanding		121,022		125,144		127,794
Net income (loss) per common share:
Basic	$	0.86	$	0.61	$	(1.37)
Diluted	$	0.86	$	0.61	$	(1.37)

For the year ended December 31, 2017, the diluted weighted average number of common shares outstanding excluded an additional 1.0 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.

For the year ended December 31, 2016, the diluted weighted average number of common shares outstanding excluded an additional 2.2 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.

For the year ended December 31, 2015, all potential common stock equivalents, including 3.8 million shares of stock options outstanding and 0.3 million shares of restricted stock units outstanding, were excluded as the effect would be anti-dilutive.