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Net Income (Loss) per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Net Income (Loss) per Share
Net Income (Loss) per Share
Basic and diluted earnings per share are computed using the treasury stock method for third quarter and first nine months 2017 and the two-class method for third quarter and first nine months 2016. 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 previously determined that our 6.00% tangible equity units issued in 2013 were participating securities. In December 2016, we issued 7,857,000 shares of our common stock upon the mandatory settlement of the stock purchase contract related to the 6.00% tangible equity units. 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 per share are as follows:
 
Third Quarter
 
First Nine Months
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Numerator:
 
 
 
 
 
 
 
Continuing operations
 
 
 
 
 
 
 
Net income (loss) from continuing operations
$
8,033

 
$
17,439

 
$
29,100

 
$
33,661

Less: Net (income) attributable to noncontrolling interest
(24
)
 
(610
)
 
(112
)
 
(1,330
)
Earnings (loss) available for diluted earnings per share
$
8,009

 
$
16,829

 
$
28,988

 
$
32,331

Less: Undistributed net income from continuing operations allocated to participating securities
—

 
(3,152
)
 
—

 
(6,035
)
Earnings (loss) from continuing operations available to common shareholders for basic earnings per share
$
8,009

 
$
13,677

 
$
28,988

 
$
26,296

 
 
 
 
 
 
 
 
Discontinued operations
 
 
 
 
 
 
 
Net income (loss) from discontinued operations available for diluted earnings per share
$
37,193

 
$
(7,164
)
 
$
38,840

 
$
(17,428
)
Less: Undistributed net income from discontinued operations allocated to participating securities
—

 
1,342

 
—

 
3,253

Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share
$
37,193

 
$
(5,822
)
 
$
38,840

 
$
(14,175
)
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding — basic
42,270

 
34,099

 
42,204

 
34,234

Weighted average common shares upon conversion of participating securities
—

 
7,857

 
—

 
7,857

Dilutive effect of stock options, restricted stock and equity-settled awards
356

 
304

 
308

 
243

Total weighted average shares outstanding — diluted
42,626

 
42,260

 
42,512

 
42,334

Anti-dilutive awards excluded from diluted weighted average shares
1,048

 
2,001

 
1,458

 
2,146


We intend to settle the remaining principal amount of our 3.75% convertible senior notes due in 2020 (Convertible Notes) in cash upon conversion with only the amount in excess of par value of the Convertible Notes to be settled in shares of our common stock. Therefore, our calculation of diluted net income per share includes only the amount, if any, in excess of par value of the Convertible Notes. As such, the Convertible Notes have no impact on diluted net income per share until the price of our common stock exceeds the $24.49 conversion price of the Convertible Notes. The average price of our common stock in third quarter 2017 did not exceed the conversion price which resulted in no additional diluted outstanding shares.