EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2015

Earnings Per Share, Basic and Diluted [Abstract]

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

Earnings per common share is not provided for the Successor Company as the Company is now a subsidiary of KKR Fund Holdings, which owns 100 common shares of the Company constituting all of its outstanding common shares. The following table presents a reconciliation of basic and diluted net income (loss) per common share for the Predecessor Company (amounts in thousands, except per share information):

	Predecessor Company
	Four months ended April 30, 2014		Year ended December 31, 2013
Net income (loss)	$	105,980	$	293,230
Less: Preferred share distributions	6,891		27,411
Net income (loss) available to common shares	$	99,089	$	265,819
Less: Dividends and undistributed earnings allocated to participating securities	292		904
Net income (loss) allocated to common shares	$	98,797	$	264,915
Basic:
Basic weighted average common shares outstanding	204,276		202,411
Net income (loss) per common share	$	0.48	$	1.31
Diluted:
Diluted weighted average common shares outstanding(1)	204,276		202,411
Net income (loss) per common share	$	0.48	$	1.31
Distributions declared per common share	$	0.22	$	0.90

(1) Potential anti-dilutive common shares excluded from diluted earnings per share related to common share options were 1,932,279.