Earnings per share

12 Months Ended

Dec. 31, 2015

2. EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed similar to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. For the year ended December 31, 2015, the dilutive effect of 431 thousand stock options (“NQSO”) and restricted stock units (“RSU”) were excluded from the diluted weighted-average common shares outstanding as the Company incurred a loss during this period. For the year ended December 31, 2015 and 2014, 1,179 shares and 540 shares of NQSOs and RSUs were excluded from the calculation of diluted earnings per share based on the application of the treasury stock method, as such NQSOs and RSUs were determined to be anti-dilutive.

The computations for basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013 are as follows:

(shares in thousands)
		2015			2014			2013
Income (loss) from continuing operations	$	(6,189	)	$	20,718		$	19,857
Loss on discontinued operations, net of income taxes, attributable to Great Lakes Dredge & Dock Corporation		—			(10,423	)		(54,218	)
Net income (loss) attributable to common stockholders of Great Lakes Dredge & Dock Corporation	$	(6,189	)	$	10,295		$	(34,361	)

Weighted-average common shares outstanding — basic		60,410			59,938			59,495
Effect of stock options and restricted stock units		—			584			606

Weighted-average common shares outstanding — diluted		60,410			60,522			60,101

Earnings (loss) per share from continuing operations — basic	$	(0.10	)	$	0.35		$	0.33
Earnings (loss) per share from continuing operations — diluted	$	(0.10	)	$	0.34		$	0.33