XML 32 R21.htm IDEA: XBRL DOCUMENT v3.6.0.2
Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
LOSS) PER SHARE
Earnings (loss) per share (“EPS”) is calculated utilizing the weighted average shares outstanding. Under the two-class method, unvested RSAs that contain non-forfeitable rights to dividends are treated as participating securities and are included in the EPS computation to the extent that there are undistributed earnings available. These securities do not participate in losses.





Class A Common Stock
Basic and diluted earnings (loss) per share for the three and six months ended June 30, 2016 was calculated as follows:
 
 
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2016
(In thousands, except per share amounts)
 
 
Basic and diluted earnings (loss) per share(1):
 
 
 
 
Net income (loss) attributable to Class A common stockholders
 
$
1,097

 
$
(3,535
)
Less: dividends paid on Class A common stock and participating RSAs
 
—

 
30,674

Undistributed loss attributable to Class A stockholders
 
$
1,097

 
$
(34,209
)

 

 

Weighted-average shares outstanding
 
106,856

 
106,856


 

 

Distributed earnings per share
 
$
—

 
$
0.29

Undistributed earnings (loss) per share
 
0.01

 
(0.32
)
Basic and diluted earnings (loss) per share
 
$
0.01

 
$
(0.03
)

(1)
The computation for diluted loss per share for the six months ended June 30, 2016 excludes 61,343,054 shares of Class B common stock, 6,245,398 unvested RSAs, and 2,515,947 unvested RSUs because the effect would have been anti-dilutive.