(Loss) Earnings Per Share

12 Months Ended

Dec. 31, 2019

The following table details the computation of basic and diluted (loss) earnings per share:


	Year ended December 31,
	2019		2018		2017
Numerator:
Net income (loss) attributable to Providence	$	966	$	(18,981)	$	53,369
Less dividends on convertible preferred stock	(4,403)		(4,413)		(4,418)
Less income allocated to participating securities	—		(1,863)		(6,315)
Net (loss) income available to common stockholders	$	(3,437)	$	(25,257)	$	42,636

Continuing operations	$	(9,356)	$	11,953	$	40,647
Discontinued operations	5,919		(37,210)		1,989
Net (loss) income available to common stockholders	$	(3,437)	$	(25,257)	$	42,636

Denominator:
Denominator for basic earnings per share -- weighted-average shares	12,958,713		12,960,837		13,602,140
Effect of dilutive securities:
Common stock options	—		72,410		66,314
Performance-based restricted stock units	—		—		4,860
Denominator for diluted earnings per share -- adjusted weighted-average shares assumed conversion	12,958,713		13,033,247		13,673,314

Basic (loss) earnings per share:
Continuing operations	$	(0.72)	$	0.92	$	2.99
Discontinued operations	0.46		(2.87)		0.15
Basic (loss) earnings per share	$	(0.26)	$	(1.95)	$	3.14
Diluted (loss) earnings per share:
Continuing operations	$	(0.72)	$	0.92	$	2.97
Discontinued operations	0.46		(2.86)		0.15
Diluted (loss) earnings per share	$	(0.26)	$	(1.94)	$	3.12

Income allocated to participating securities is calculated by allocating a portion of net income attributable to Providence, less dividends on convertible stock, to the convertible preferred stockholders on a pro-rata as converted basis; however, the convertible preferred stockholders are not allocated losses.

The following weighted-average shares were not included in the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive:


	Year ended December 31,
	2019	2018	2017
Stock options to purchase common stock	583,469	560,547	362,392
Convertible preferred stock	800,460	802,489	803,323