Net Income (Loss) per Common Share

The table below presents basic and diluted net income (loss) per share of common stock using the two-class method for the years ended December 31, 2017, December 31, 2016 and December 31, 2015 (dollars, other than shares and per share amounts, in thousands):



	For the year ended December 31, 2017		For the year ended December 31, 2016			For the year ended December 31, 2015
Numerator:
Net income (loss) attributable to common stockholders and participating securities for basic and diluted earnings per share	$	85,097	$	(25,015	)	$	(9,484	)
Less:
Dividends and undistributed earnings allocated to participating securities	312		377			1,045
Net income (loss) allocable to common stockholders—basic and diluted	$	84,785	$	(25,392	)	$	(10,529	)
Denominator:
Weighted average common shares outstanding for basic earnings per share	41,817,455		41,688,950			41,490,556
Weighted average common shares outstanding for diluted earnings per share	41,817,455		41,688,950			41,490,556
Basic earnings per common share	$	2.03	$	(0.61	)	$	(0.25	)
Diluted earnings per common share	$	2.03	$	(0.61	)	$	(0.25	)

For the years ended December 31, 2017, December 31, 2016 and December 31, 2015, the Company excluded the effects of the warrants and the convertible senior unsecured notes from the computation of diluted earnings per share since the average market value per share of the Company's common stock was below the exercise price of the warrants and the convertible senior unsecured notes.