Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (share amounts in thousands):



	Three months ended				Nine months ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
			Predecessor				Predecessor
Net Income	$	56	$	61	$	161	$	115
Less Preferred stock dividend	7		—		21		—
Net income available to common shares	49		61		140		115

Weighted-average common shares outstanding - basic	214,370		58,335		214,370		58,333
Dilutive effect of unvested restricted stock & PRSU	49		52		21		37
Dilutive effect of stock options	—		92		—		68
Weighted-average shares outstanding - diluted	214,419		58,479		214,391		58,438

Net income per common share:
Basic	$	0.23	$	1.06	$	0.65	$	1.98
Diluted	$	0.23	$	1.06	$	0.65	$	1.98

The number of shares of common stock outstanding used in calculating the weighted average thereof reflects the actual number of the Successor and Predecessor shares of common stock outstanding, excluding unvested restricted stock and shares held in treasury.

The calculation of diluted earnings per share for the three and nine months ended September 30, 2018 excludes the incremental effect of 70 million weighted average common stock warrants outstanding due to their anti-dilutive effect. This calculation also excludes the potential dilutive effect of the 391 thousand preferred stock shares outstanding as of September 30, 2018 as the contingency that would allow for the preferred shares to be converted to common shares has not yet been met. The calculation of diluted earnings per share for the three and nine months ended September 30, 2018 excludes the incremental effect related to certain outstanding stock options and restricted shares due to their anti-dilutive effect. The number of weighted average equivalent shares excluded is 1,384 thousand and 609 thousand shares for the three and nine months ended September 30, 2018, respectively.

The calculation of diluted earnings per share for the Predecessor three and nine months ended September 30, 2017 excludes the incremental effect related to certain outstanding stock options and restricted shares due to their anti-dilutive effect. The number of weighted average equivalent shares excluded in the Predecessor three and nine months ended September 30, 2017 are 0 thousand and 0 thousand shares.

The settlement terms of the PRSUs granted in 2017 by the Predecessor required cash settlement upon vesting as opposed to common equity settlement. As a result, these awards were liability classified and were excluded from EPS calculations.