Loss Per Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Loss Per Share

Loss Per Share

Diluted loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding plus outstanding common stock equivalents. Common stock equivalents consist of employee and director stock options (Predecessor), restricted stock awards (Predecessor and Successor), other share-based payment awards (Predecessor), and contingently issuable shares related to the Company’s 5.25% Convertible Notes (Predecessor), and the Company's Second Lien Notes (Successor), which are included in the calculation of weighted average shares outstanding using the if-converted method. Refer to Note 7 - Debt for further description of the Convertible Notes and Second Lien Notes.

The following tables are reconciliations of the basic and diluted loss per common share calculations:

	Successor			Predecessor
	Three Months Ended March 31, 2018			Three Months Ended March 31, 2017
Numerator:
Net loss	$	(5,141	)	$	(13,492	)
Denominator:
Weighted average common shares outstanding	2,000			32,303
Effect of dilutive securities:
Outstanding common stock equivalents	—			—
Denominator for diluted loss per common share	2,000			32,303
Basic loss per common share	$	(2.57	)	$	(0.42	)
Diluted loss per common share	$	(2.57	)	$	(0.42	)
Excluded outstanding share-based awards having an anti-dilutive effect	1,734			2,468

The computation of diluted loss per common share does not include common shares issuable upon conversion of the Company’s outstanding Second Lien Notes (Successor) or the 5.25% Convertible Notes (Predecessor), as they were anti-dilutive under the if-converted method.

The Second Lien Notes (Successor) are convertible into shares of the Company’s common stock at any time at the initial conversion price of $3.77 per share. In future periods, absent a fundamental change (as defined in the Second Lien Notes Indenture), the outstanding Second Lien Notes could increase diluted average shares outstanding by a maximum of approximately 43,700 shares.