Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2016

Earnings (Loss) Per Share

Earnings (Loss) Per Share

14. Earnings (Loss) Per Share

Successor

        The following table provides a reconciliation of net income attributable to common shareholders and weighted average common shares outstanding for basic and diluted earnings per share for the Successor Period:

	For the Period October 21, 2016 through December 31, 2016
	(in thousands, except per share amounts)
Net Earnings:
Net income	$	9,930
Participating securities—non-vested restricted stock		(280	)
Basic and diluted earnings	$	9,650
Common Shares:
Common shares outstanding—basic(1)		25,009,300
Dilutive effect of potential common shares		—
Common shares outstanding—diluted		25,009,300
Net Earnings Per Share:
Basic	$	0.39
Diluted	$	0.39
Antidilutive stock options(2)		627
Antidilutive warrants(3)		6,626

(1)	Weighted-average common shares outstanding for basic and diluted earnings per share purposes includes 17,533 shares of common stock that, while not issued and outstanding at December 31, 2016, are required by the Plan to be issued.
(2)	Amount represents options to purchase common stock that are excluded from the diluted net earnings per share calculations because the options are antidilutive.
(3)	Amount represents warrants to purchase common stock that are excluded from the diluted net earnings per share calculations because the warrants are antidilutive.

Predecessor

        The following table provides a reconciliation of net income (loss) to preferred shareholders, common shareholders, and participating securities for purposes of computing net income (loss) per share for the Predecessor Period and the years ended December 31, 2015 and 2014:

	For the Period January 1, 2016 through October 20, 2016
				Years Ended December 31,
				2015			2014
	(in thousands, except per share amounts)
Net income (loss)	$	1,323,079		$	(1,797,195	)	$	116,929
Preferred Dividend(1)		—			(948	)		(10,378	)
Net income (loss) attributable to shareholders	$	1,323,079		$	(1,798,143	)	$	106,551
Participating securities—Series A Preferred Stock(2)		—			—			(35,696	)
Participating securities—Non-vested restricted stock(2)		(16,522	)		—			(3,584	)
Net income (loss) attributable to common shareholders	$	1,306,557		$	(1,798,143	)	$	67,271
Weighted average shares outstanding		10,645			7,726			6,644
Basic and diluted net income (loss) per share	$	122.74		$	(232.74	)	$	10.13

(1)	Calculation of the preferred stock dividend is discussed in "—Note 11. Preferred Stock".
(2)	As these shares are participating securities that participate in earnings, but are not required to participate in losses, this calculation demonstrates that there is not an allocation of the loss to the non-vested restricted stockholders.