Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings per Share

Schedule of reconciliation of net income before noncontrolling interest to net income available for common stockholders

	Three Months Ended  September 30,				Nine Months Ended  September 30,
(in thousands)	2017		2016		2017		2016
Income (loss) before income taxes and noncontrolling interest	$	(46,495)	$	37,874	$	(17,421)	$	140,990
Provision for (benefit from) income taxes		(6,505)		4,851		(2,918)		17,325
Net income (loss)		(39,990)		33,023		(14,503)		123,665
Noncontrolling interest		26,472		(25,997)		6,466		(97,913)
Net income (loss) available for common stockholders	$	(13,518)	$	7,026	$	(8,037)	$	25,752

Schedule of basic earnings per share

	Three Months Ended  September 30,				Nine Months Ended  September 30,
(in thousands, except for share or per share data)	2017		2016		2017		2016
Basic earnings per share:
Net income (loss) available for common stockholders	$	(13,518)	$	7,026	$	(8,037)	$	25,752
Less: Dividends and undistributed earnings allocated to participating securities		(314)		(191)		(997)		(612)
Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities	$	(13,832)		6,835	$	(9,034)		25,140
Weighted average shares of common stock outstanding:
Class A		79,199,142		38,351,465		53,520,346		38,264,139
Basic Earnings per share	$	(0.17)	$	0.18	$	(0.17)	$	0.66

Schedule of diluted earnings per share

	Three Months Ended  September 30,				Nine Months Ended  September 30,
(in thousands, except for share or per share data)	2017		2016		2017		2016
Diluted earnings per share:
Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities	$	(13,832)	$	6,835	$	(9,034)	$	25,140
Weighted average shares of common stock outstanding:
Class A
Issued and outstanding		79,199,142		38,351,465		53,520,346		38,264,139
Issuable pursuant to 2015 Management Incentive Plan(1)		—		—		—		—
		79,199,142		38,351,465		53,520,346		38,264,139
Diluted Earnings per share	$	(0.17)	$	0.18	$	(0.17)	$	0.66