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Net Income (Loss) per Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Net Income (Loss) per Share
Net Income (Loss) per Share
Basic and diluted earnings (loss) per share are computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security. We have determined that our 6.00% tangible equity units are participating securities. Per share amounts are computed by dividing earnings available to common shareholders by the weighted average shares outstanding during each period. In periods with a net loss, no such adjustment is made to earnings as the holders of the participating securities have no obligation to fund losses.
The computations of basic and diluted earnings (loss) per share are as follows:
 
For the Year
 
2016
 
2015
 
2014
 
(In thousands)
Numerator:
 
 
 
 
 
Continuing operations
 
 
 
 
 
Net income (loss) from continuing operations
$
77,044

 
$
(26,241
)
 
$
36,697

Less: Net (income) attributable to noncontrolling interest
(1,531
)
 
(676
)
 
(505
)
Earnings (loss) available for diluted earnings per share
$
75,513

 
$
(26,917
)
 
$
36,192

Less: Undistributed net income from continuing operations allocated to participating securities
(13,493
)
 
—

 
(6,586
)
Earnings (loss) from continuing operations available to common shareholders for basic earnings per share
$
62,020

 
$
(26,917
)
 
$
29,606

 
 
 
 
 
 
Discontinued operations
 
 
 
 
 
Net income (loss) from discontinued operations available for diluted earnings per share
(16,865
)
 
(186,130
)
 
(19,609
)
Less: Undistributed net income from discontinued operations allocated to participating securities
3,014

 
—

 
3,569

Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share
(13,851
)
 
(186,130
)
 
(16,040
)
Denominator:
 
 
 
 
 
Weighted average common shares outstanding — basic
34,546

 
34,266

 
35,317

Weighted average common shares upon conversion of participating securities (a)
7,515

 
—

 
7,857

Dilutive effect of stock options, restricted stock and equity-settled awards
273

 
—

 
422

Total weighted average shares outstanding — diluted
42,334

 
34,266

 
43,596

Anti-dilutive awards excluded from diluted weighted average shares outstanding
2,102

 
10,864

 
2,238


 _____________________
(a)
Our earnings per share calculation reflects the weighted average shares issuable upon settlement of the prepaid stock purchase contract component of our 6.00% tangible equity units, issued in 2013.
On December 15, 2016, we issued 7,857,000 shares of our common stock upon settlement of the stock purchase contract related to the 6.00% tangible equity units.
We intend to settle the principal amount of the Convertible Notes in cash upon conversion with any excess conversion value to be settled in shares of our common stock. Therefore, only the amount in excess of the par value of the Convertible Notes will be included in our calculation of diluted net income per share using the treasury stock method. As such, the Convertible Notes have no impact on diluted net income per share until the price of our common stock exceeds the conversion price of the Convertible Notes of $24.49. The average price of our common stock in 2016 did not exceed the conversion price which resulted in no additional diluted outstanding shares.