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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

Basic earnings (loss) per share amounts are computed using the weighted average number of common shares outstanding during the period.  Diluted earnings (loss) per share amounts are computed using the weighted average number of common shares outstanding and dilutive potential common shares outstanding during each period.

The reconciliations between basic and diluted (loss) earnings per share for the three years ended December 31, 2014 are as follows:
 
 
For the year ended December 31,
 
 
2014
 
2013
 
2012
 
 
(Dollar amounts in millions,
except per share data)
 
 
 
 
 
 
 
Net (loss) earnings
 
$
(45.6
)
 
$
(8.3
)
 
$
9.5

 
 
 
 
 
 
 
Weighted average common shares outstanding
 
15,635,710

 
15,371,932

 
15,152,286

Dilutive effect of common share equivalents
 
—

 
—

 
378,919

Dilutive shares outstanding
 
15,635,710

 
15,371,932

 
15,531,205

 
 
 
 
 
 
 
Basic (loss) earnings per share
 
$
(2.92
)
 
$
(0.54
)
 
$
0.63

 
 
 
 
 
 
 
Diluted (loss) earnings per share
 
$
(2.92
)
 
$
(0.54
)
 
$
0.61

 

The effect of certain potential common share equivalents, as outlined below, were excluded from the computation of diluted shares outstanding for 2014, 2013 and 2012 as their inclusion would have been anti-dilutive. Restricted stock awards which vest based upon achievement of performance targets were excluded from the diluted shares outstanding as the performance targets had not been met as of the end of 2014, 2013 and 2012.

In reporting periods in which the Company reports a net loss, anti-dilutive shares consist of the weighted average common stock equivalents outstanding for the period. In those reporting periods in which the Company reports net income, anti-dilutive shares consist of those common stock equivalents that have either an exercise price above the average stock price for the period or the common stock equivalents’ related average unrecognized stock compensation expense is sufficient to “buy back” the entire amount of shares.

A summary of the weighted average anti-dilutive shares excluded from each of the three years ended December 31, 2014 is as follows:

 
 
For the year ended December 31,
 
 
2014
 
2013
 
2012
Warrants
 
461,275

 
652,048

 
777,419

Restricted stock
 
407,656

 
501,021

 
299,924

Stock options
 
599,692

 
669,942

 
27,774

Total
 
1,468,623

 
1,823,011

 
1,105,117