Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Reconciliation of basic and diluted earnings per common share

The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per-share

data):

	For the three months ended September 30,						For the nine months ended September 30,
	2016			2015			2016			2015
Numerator:
Net income (loss) attributable to common shareholders	$	(43,897	)	$	31,631		$	32,618		$	52,290
Less: dividends paid on unvested share-based compensation	(121		)	(109		)	(362		)	(323		)
Undistributed earnings attributable to share-based compensation	—			(45		)	—			—
Net income (loss) available to common shareholders	$	(44,018	)	$	31,477		$	32,256		$	51,967
Denominator:
Weighted-average number of common shares — basic	71,922,904			71,735,129			71,894,313			71,709,380
Effect of dilutive share-based compensation	—			716,181			482,036			783,533
Weighted-average number of common shares — diluted	71,922,904			72,451,310			72,376,349			72,492,913
Net income (loss) per share available to common shareholders — basic	$	(0.61	)	$	0.44		$	0.45		$	0.72
Net income (loss) per share available to common shareholders — diluted	$	(0.61	)	$	0.43		$	0.45		$	0.72