(Loss) Earnings Per Share

Basic (loss) earnings per common share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding for the period. Diluted (loss) earnings per share is calculated by dividing net (loss) income by the weighted average shares outstanding assuming dilution. Dilutive common shares outstanding is computed using the Treasury Stock Method and reflects the additional shares that would be outstanding if dilutive stock options were exercised and restricted stock and restricted stock units were settled for common shares during the period. In addition, dilutive shares would include any shares issuable related to PSUs for which the performance conditions have been met as of the end of the period. For the years ended December 31, 2017 and 2016, respectively, 1.1 million and 3.8 million options and restricted common shares were excluded from the calculation as these options and restricted common shares were anti-dilutive. There was no anti-dilutive impact for the year ended December 31, 2018.

The computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2018, 2017 and 2016, is as follows (in thousands, except per share amounts):



	Year Ended December 31,
	2018			2017		2016
Numerator:
Net (loss) income	$	(76,171	)	$	16,430	$	3,949

Denominator:
Denominator for basic (loss) earnings per share—weighted-average shares outstanding	52,230			53,851		53,607
Effect of dilutive securities:
Employee stock options and restricted common shares	—			1,093		728
Contingently issuable shares	—			—		125
Denominator for diluted (loss) earnings per share	52,230			54,944		54,460

Basic (loss) earnings per share	$	(1.46	)	$	0.31	$	0.07
Diluted (loss) earnings per share	$	(1.46	)	$	0.30	$	0.07