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Net Income (Loss) Per Share
 3 Months Ended
Mar. 31, 2017
Net income (loss) per share  
Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

 

The following table is a reconciliation between net income and the amounts used to compute basic and diluted net income per share and the weighted average shares outstanding used to compute basic and diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

   

2017

 

2016

 

 

 

(In thousands, except per share data)

Numerator:

 

 

 

 

 

 

 

Net loss

 

$

(28,841)

 

$

(58,993)

 

Basic income allocable to participating securities(1)

 

 

 —

 

 

 —

 

Basic net loss allocable to common shareholders

 

 

(28,841)

 

 

(58,993)

 

Diluted adjustments to income allocable to participating securities(1)

 

 

 —

 

 

 —

 

Diluted net loss allocable to common shareholders

 

$

(28,841)

 

$

(58,993)

 

Denominator:

 

 

 

 

 

 

 

Weighted average number of shares outstanding:

 

 

 

 

 

 

 

Basic

 

 

387,312

 

 

384,435

 

Restricted stock awards and units(1)(2)

 

 

 —

 

 

 —

 

Diluted

 

 

387,312

 

 

384,435

 

Net loss per share:

 

 

 

 

 

 

 

Basic

 

$

(0.07)

 

$

(0.15)

 

Diluted

 

$

(0.07)

 

$

(0.15)

 

(1)

Our service vesting restricted stock awards represent participating securities because they participate in non-forfeitable dividends with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Our restricted stock awards with market and service vesting criteria and all restricted stock units are not considered to be participating securities and, therefore, are excluded from the basic net income (loss) per common share calculation. Our service vesting restricted stock awards do not participate in undistributed net losses because they are not contractually obligated to do so and, therefore, are excluded from the basic net income (loss) per common share calculation in periods we are in a net loss position. 

(2)

We excluded outstanding restricted stock awards and units of 14.6 million and 13.6 million for the three months ended March 31, 2017 and 2016, respectively, from the computations of diluted net income per share because the effect would have been anti-dilutive.