SHAREHOLDERS' EQUITY

Basic and diluted income (loss) per share was determined based on the following share data (in thousands):



	Year Ended December 31,
	2017	2016	2015
Weighted average basic common shares	11,945	11,812	11,516
Effect of stock options	1,626	886	866
Effect of dilutive share awards	111	75	159
Effect of Convertible Senior Notes	—	—	—
Weighted average diluted common shares	13,682	12,773	12,541

For the year ended December 31, 2017, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.1 million shares of common stock.

The 0.625% Convertible Senior Notes due June 1, 2022 and the warrants issued by the Company in the second quarter of 2017 could be converted into the Company’s common stock in the future, subject to certain contingencies. See Note 11—Debt for additional information. Shares of the Company’s common stock associated with these instruments were excluded from the calculation of diluted income per share during 2017 as they were anti-dilutive since the conversion price of the Convertible Senior Notes and the strike price of the warrants were greater than the average market price of the Company’s common stock.

See Note 9—Stock-Based Compensation for a full description of outstanding equity awards.

Common Stock Repurchases

In each of January 2010, May 2014, January 2016 and February 2016, the board of directors authorized and the Company announced the repurchase of up to $10.0 million, $10.0 million, $50.0 million and $40.0 million, respectively, of LendingTree's common stock. During the years ended December 31, 2017, 2016 and 2015, the Company purchased 75,393, 690,218 and 5,250 shares, respectively, of its common stock for aggregate consideration of $21.0 million, $48.5 million and $0.2 million, respectively. At December 31, 2017, $27.7 million remains authorized for share repurchase.

Equity Offering

In November 2015, the Company completed an equity offering of 852,500 shares of its common stock. The common stock was issued at a price of $115.00 per share. The Company received net proceeds of $91.5 million, after deducting approximately $5.9 million in underwriting discounts and $0.7 million in offering expenses.