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Earnings (Losses) Per Share (Tables)
12 Months Ended
Dec. 31, 2018
Earnings (Losses) Per Share  
Earnings (losses) per share computations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

 

 

2018

    

2017

    

2016

 

 

 

    

 

(In thousands, except per share amounts)

 

BASIC EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (numerator):

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations, net of tax

 

 

 

$

(598,063)

 

$

(497,114)

 

$

(1,011,244)

 

Less: net (income) loss attributable to noncontrolling interest

 

 

 

 

(28,222)

 

 

(6,178)

 

 

(135)

 

Less: preferred stock dividends

 

 

 

 

(12,305)

 

 

 —

 

 

 —

 

Less: accrued distribution on redeemable noncontrolling interest in subsidiary

 

 

 

 

(11,098)

 

 

 —

 

 

 —

 

Less: distributed and undistributed earnings allocated to unvested shareholders

 

 

 

 

(1,819)

 

 

13,210

 

 

22,730

 

Numerator for basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income (loss) from continuing operations, net of tax - basic

 

 

 

$

(651,507)

 

$

(490,082)

 

$

(988,649)

 

Income (loss) from discontinued operations, net of tax

 

 

 

$

(14,663)

 

$

(43,519)

 

$

(18,363)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares outstanding - basic

 

 

 

 

334,397

 

 

280,653

 

 

276,475

 

Earnings (losses) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic from continuing operations

 

 

 

$

(1.95)

 

$

(1.75)

 

$

(3.58)

 

Basic from discontinued operations

 

 

 

 

(0.04)

 

 

(0.15)

 

 

(0.06)

 

Total Basic

 

 

 

$

(1.99)

 

$

(1.90)

 

$

(3.64)

 

DILUTED EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted income (loss) from continuing operations, net of tax - basic

 

 

 

$

(651,507)

 

$

(490,082)

 

$

(988,649)

 

Add: effect of reallocating undistributed earnings of unvested shareholders

 

 

 

 

 —

 

 

 —

 

 

 —

 

Adjusted income (loss) from continuing operations, net of tax - diluted

 

 

 

$

(651,507)

 

$

(490,082)

 

$

(988,649)

 

Income (loss) from discontinued operations, net of tax

 

 

 

$

(14,663)

 

$

(43,519)

 

$

(18,363)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares outstanding - basic

 

 

 

 

334,397

 

 

280,653

 

 

276,475

 

Add: dilutive effect of potential common shares

 

 

 

 

 —

 

 

 —

 

 

 —

 

Weighted-average number of shares outstanding - diluted

 

 

 

 

334,397

 

 

280,653

 

 

276,475

 

Earnings (losses) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Diluted from continuing operations

 

 

 

$

(1.95)

 

$

(1.75)

 

$

(3.58)

 

Diluted from discontinued operations

 

 

 

 

(0.04)

 

 

(0.15)

 

 

(0.06)

 

Total Diluted

 

 

 

$

(1.99)

 

$

(1.90)

 

$

(3.64)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Potentially dilutive securities excluded as anti-dilutive

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

 

2018

    

2017

    

2016

 

 

    

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Potentially dilutive securities excluded as anti-dilutive

 

 

 

 

4,341

 

 

4,534

 

 

5,372