Earnings (loss) per Share (Tables)

12 Months Ended

Dec. 31, 2014

Table Illustrating Computation of Basic and Diluted Earnings (Loss) Per Common Share

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


	Year Ended December 31,
	2014			2013			2012
Net income (loss)	$	(117,232	)	$	(64,203	)	$	110,038
Weighted average common stock outstanding
Basic		34,055,513			35,232,194			36,567,684
Diluted		34,055,513			35,232,194			37,533,391
Earnings (loss) per share
Basic	$	(3.44	)	$	(1.82	)	$	3.01
Diluted	$	(3.44	)	$	(1.82	)	$	2.93

Table Showing Outstanding Options and Warrants Excluded from Computation of Diluted Earnings (Loss) Per Share

The following outstanding instruments were excluded from the computation of diluted earnings (loss) per share, as they would have an anti-dilutive effect on the calculation:


	Year Ended December 31,
	2014		2013		2012
Options		3,215,945		2,944,645		255,023
Warrants		—		1,426,330		1,874,977