Basic and Diluted Loss Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Basic and Diluted Loss Per Share

BASIC AND DILUTED LOSS PER SHARE

The Company computes net loss per share in accordance with accounting guidance that requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the condensed consolidated statement of operations and comprehensive loss. Basic EPS is computed by dividing net loss for the period by the weighted average number of shares outstanding during the period. Basic EPS excludes Class B Shares issued to Management Holders until the performance condition or termination event is considered probable (see Note 10). Class B Shares issued to Management Holders will be included in the calculation of Diluted EPS using the treasury stock method. Diluted EPS is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period, increased by potentially dilutive common shares that were outstanding during the period. Diluted EPS excludes all potential dilutive shares if their effect is anti-dilutive. Potentially dilutive common shares include stock options and restricted stock (see Note 15).

There were no potentially dilutive securities for the three months ended March 31, 2014.

Excluded from the calculation of diluted EPS for the three months ended March 31, 2015, are 50,000 restricted shares and 0.4 million stock options, as such securities were anti-dilutive.