LOSS PER SHARE

12 Months Ended

Dec. 31, 2015

INCOME (LOSS) PER SHARE

LOSS PER SHARE

NOTE 12 LOSS PER SHARE

Basic net loss per share is computed by dividing the net lossavailable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed similarly except that the weighted average number of common shares is increased to reflect all dilutive instruments.

Below is a reconciliation of the basic and diluted weighted average number of common shares and the computations for basicloss per share for the year ended December 31, 2015, 2014 and 2013:

	2015		2014		2013
	(in thousands, except per share amounts)
Net loss	$	(20,450)	$	(311,943)	$	(147,742)
Weighted average common shares		300,341		297,763		297,041
Loss per common share	$	(0.07)	$	(1.05)	$	(0.50)
Diluted	$	(0.07)	$	(1.05)	$	(0.50)

Options to purchase 6.9 million shares of common stock (2014–3.3 million, 2013–2.1 million) at an average exercise price of $2.49 at December 31, 2015 (2014 - $3.95, 2013 - $5.04) were not included in the computation of diluted weighted average shares because their exercise price exceeded the average price of the Company’s common stock for the year ended December 31, 2015, and because their effect would have been anti-dilutive. Other outstanding options to purchase 0.1 million shares of common stock (2014–1.8 million, 2013–3.6 million) were not included in the computation of diluted weighted average shares in the year ended December 31, 2015 because their effect would have been anti‑dilutive.