Loss Per Share

The net loss available for common shareholders and loss per common share presented in the table below includes the results of operations of the Entities under Common Control which were not purchased solely with cash (note 4):



	Three Months Ended				Nine Months Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
	$		$		$		$
Net loss	(17,484	)	(22,380	)	(64,050	)	(56,144	)

Weighted average number of common shares – basic ⁽¹⁾	268,558,556		179,224,094		268,470,804		178,853,698
Dilutive effect of stock-based awards	—		—		—		—
Weighted average number of common shares – diluted ⁽¹⁾	268,558,556		179,224,094		268,470,804		178,853,698

Loss per common share:
– Basic	(0.07	)	(0.12	)	(0.24	)	(0.31	)
– Diluted	(0.07	)	(0.12	)	(0.24	)	(0.31	)


(1)	The weighted-average number of common shares outstanding for periods prior to May 2017 has been retroactively adjusted to include approximately 13.8 million shares of the Company's Class B common stock issued to Teekay as consideration for the acquisition of 50% of TTOL in May 2017.

Stock-based awards that have an anti-dilutive effect on the calculation of diluted earnings per common share, are excluded from this calculation. In the periods where a loss attributable to shareholders has been incurred, all stock-based awards are anti-dilutive. For the three and nine months ended September 30, 2018, 0.3 million and 0.3 million restricted stock units (September 30, 2017 - 0.6 million and 0.3 million), respectively, had an anti-dilutive effect on the calculation of diluted earnings per common share. For the three and nine months ended September 30, 2018, options to acquire 2.9 million and 2.9 million (September 30, 2017 - 1.7 million and 1.6 million) shares, respectively, of the Company’s Class A common stock had an anti-dilutive effect on the calculation of diluted earnings per common share.