Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2017

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

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


	Year Ended December 31,
	2017		2016			2015
	(In thousands of US dollars, except share data)
Basic Earnings per Share
Net income (loss)	$	84,936	$	(29,615	)	$	(84,867	)

Basic weighted average common stock outstanding		33,943,264		34,833,967			34,380,517
Basic earnings (loss) per share	$	2.50	$	(0.85	)	$	(2.47	)

Diluted Earnings per Share
Net income (loss)	$	84,936	$	(29,615	)	$	(84,867	)
Add back: Interest expense on Exchangeable Notes		5,349		—			—
Net income (loss) allocated to common stockholders	$	90,285	$	(29,615	)	$	(84,867	)

Basic weighted average common stock outstanding		33,943,264		34,833,967			34,380,517
Net effect of dilutive equity awards		821,664		—			—
Net effect of assumed conversion of 5.0% Exchangeable Notes to common stock		9,990,209		—			—

Diluted weighted average common stock outstanding		44,755,137		34,833,967			34,380,517
Diluted earnings (loss) per share	$	2.02	$	(0.85	)	$	(2.47	)

Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share

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


	Year Ended December 31,
	2017		2016		2015
Options		835,572		3,428,665		3,179,899
Restricted Stock Units		—		518,480		135,370