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Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

The following table details the Company’s calculation of earnings per share for the three months ended March 31, 2016 and 2015.  

 

 

 

Three Months Ended March 31

 

 

 

2016

 

 

2015

 

Basic earnings (loss) per share:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(71,165

)

 

$

(34,535

)

Less preferred stock dividends

 

 

(5,480

)

 

 

(5,481

)

Net income (loss) available to common shareholders

 

$

(76,645

)

 

$

(40,016

)

 

 

 

 

 

 

 

 

 

Weighted average shares

 

 

94,850,791

 

 

 

96,783,199

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

 

$

(0.81

)

 

$

(0.41

)

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(71,165

)

 

$

(34,535

)

Less preferred stock dividends for antidilutive shares

 

 

(5,480

)

 

 

(5,481

)

Net income (loss) available to common shareholders

 

$

(76,645

)

 

$

(40,016

)

 

 

 

 

 

 

 

 

 

Weighted average shares

 

 

94,850,791

 

 

 

96,783,199

 

Potential dilutive shares from exercise of stock options

 

 

-

 

 

 

-

 

Diluted weighted average shares

 

 

94,850,791

 

 

 

96,783,199

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

 

$

(0.81

)

 

$

(0.41

)