Earnings Per Share

6 Months Ended

Jun. 30, 2015

17. Earnings (Loss) per Share

Dilutive potential shares of common stock may include restricted stock and units, options, and performance units issued under our Long Term Incentive Plan (“LTIP”). We apply the treasury stock method to determine dilution from restricted stock and units, options, and performance units.

The following table summarizes the calculation of diluted earnings (loss) per share (in thousands, except per share amounts):

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2015		2014		2015		2014
Numerator for calculation of diluted earnings (loss) per share:
		Net income (loss)	$	(52,897)	$	(2,148)	$	(57,577)	$	(17,774)
Denominator for basic income (loss) per share – weighted-average
	shares outstanding			61,028		60,818		60,982		60,779
Dilutive effect of stock equivalents				—		—		—		—
Denominator for diluted earnings (loss) per share				61,028		60,818		60,982		60,779
Diluted earnings (loss) per share			$	(0.87)	$	(0.04)	$	(0.94)	$	(0.29)

For the periods presented, the following items were excluded from the diluted earnings (loss) per share calculation because they were anti-dilutive (in thousands):

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2015	2014	2015	2014
Anti-dilutive stock equivalents	2,199	1,394	2,005	1,390