Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2016

Net Income (Loss) Per Common Share [Abstract]

Net Income (Loss) Per Common Share

(13) Net Income (Loss) Per Common Share:

The reconciliation of the net income (loss) per common share calculation for the years ended December 31, 2016, 2015 and 2014 is as follows:

($ in millions and shares in thousands, except per share amounts)	2016		2015		2014
Net income (loss) used for basic and diluted earnings (loss)
per share:
Net income (loss) attributable to Frontier common shareholders	$	(587)	$	(316)	$	133
Less:  Dividends paid on unvested restricted stock awards		(3)		(3)		(3)
Total basic and diluted net income (loss) attributable to Frontier
common shareholders	$	(590)	$	(319)	$	130
Basic earnings (loss) per share:
Total weighted average shares and unvested restricted stock
awards outstanding - basic		1,172,131		1,091,798		1,001,812
Less:  Weighted average unvested restricted stock awards		(8,032)		(7,192)		(7,394)
Total weighted average shares outstanding - basic		1,164,099		1,084,606		994,418
Basic net income (loss) per share attributable to Frontier
common shareholders	$	(0.51)	$	(0.29)	$	0.13
Diluted earnings (loss) per share:
Total weighted average shares outstanding - basic		1,164,099		1,084,606		994,418
Effect of dilutive shares		-		-		3,744
Total weighted average shares outstanding - diluted		1,164,099		1,084,606		998,162
Diluted net income (loss) per share attributable to Frontier
common shareholders	$	(0.51)	$	(0.29)	$	0.13

In calculating diluted net loss per common share for the years ended December 31, 2016 and 2015, the effect of all common stock equivalents is excluded from the computation as the effect would be antidilutive.

Stock Options

For the years ended December 31, 2016, 2015 and 2014, options to purchase 40,000,  50,000 and 83,000 shares, respectively, issuable under employee compensation plans were excluded from the computation of diluted earnings (loss) per share (EPS) for those periods because the exercise prices were greater than the average market price of our common stock and, therefore, the effect would be antidilutive. 

Stock Units

At December 31, 2016, 2015 and 2014, we had 1,881,460,1,437,183 and 1,102,995 stock units, respectively, issued under the Director Plans and the 2013 EIP. These securities have not been included in the diluted income per share of common stock calculation because their inclusion would have an antidilutive effect.

Mandatory Convertible Preferred Stock

The impact of the common share equivalents associated with the 19,250,000 shares of Series A Preferred stock described above were not included in the calculation of diluted EPS as of December 31, 2016 and 2015, as their impact was antidilutive.