XML 35 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
Earnings Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic earnings or loss per common share (“EPS”) has been calculated by dividing net income or loss by the weighted average shares of the Company's Class A Common Stock outstanding during each respective period. Diluted EPS reflects the potential reduction in EPS using the treasury stock method to reflect the impact of common stock equivalents if stock options, SARs and Warrants were exercised and restricted awards were to vest.
The number of such RSUs, options, Warrants and SARs excluded from the EPS calculation was approximately 17.2 million and 27.9 million for the three months ended September 30, 2016 and 2015, respectively. The number of such RSUs, options, Warrants and SARs excluded from the EPS calculation was approximately 14.3 million and 18.3 million for the nine months ended September 30, 2016 and 2015, respectively. Such RSUs, options, Warrants and SARs were excluded from the EPS calculation as their inclusion would have an anti-dilutive impact on the EPS calculation. The computation of diluted shares can vary among periods due in part to the change in the average price of the Company's Class A Common Stock.
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and nine months ended September 30, 2016 and 2015 (in thousands, except per share amounts):
 
For the three months ended September 30,
 
2016
 
2015
 
Numerator  /
net (loss)
 
Denominator /    
shares
 
Numerator  /
net income
 
Denominator / 
shares
(Loss) income and shares used in basic calculations
$
(11,214
)
 
85,009

 
$
21,937

 
91,134

Effect of dilutive stock based awards
 
 
 
 
 
 
 
Restricted awards
 
 
—

 
 
 
809

Stock options and SARs
 
 
—

 
 
 
136

Warrants
 
 
—

 
 
 
—

(Loss) income and shares used in diluted calculations
$
(11,214
)
 
85,009

 
$
21,937

 
92,079

Basic (loss) earnings per common share
 
 
$
(0.13
)
 
 
 
$
0.24

Diluted (loss) earnings per common share
 
 
$
(0.13
)
 
 
 
$
0.24


 
For the nine months ended September 30,
 
2016
 
2015
 
Numerator  /
net income
 
Denominator /    
shares
 
Numerator  /
net income
 
Denominator / 
shares
Income and shares used in basic calculations
$
59,505

 
86,531

 
$
252,076

 
104,244

Effect of dilutive stock based awards
 
 
 
 
 
 
 
Restricted awards
 
 
1,066

 
 
 
1,994

Stock options and SARs
 
 
546

 
 
 
390

Warrants
 
 
338

 
 
 
188

Income and shares used in diluted calculations
$
59,505

 
88,481

 
$
252,076

 
106,816

Basic earnings per common share
 
 
$
0.69

 
 
 
$
2.42

Diluted earnings per common share
 
 
$
0.67

 
 
 
$
2.36