LOSS PER SHARE

Basic loss per share is determined by dividing net loss attributable to Key by the weighted average number of common shares actually outstanding during the period. Diluted loss per common share is based on the increased number of shares that would be outstanding assuming conversion of potentially dilutive outstanding securities using the treasury stock and “as if converted” methods.

The components of our loss per share are as follows (in thousands, except per share amounts):




	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2018			2017			2018			2017
Basic and Diluted EPS Calculation:
Numerator
Net loss	$	(23,860	)	$	(38,220	)	$	(65,718	)	$	(98,262	)
Denominator
Weighted average shares outstanding	20,252			20,106			20,234			20,101
Basic and diluted loss per share	$	(1.18	)	$	(1.90	)	$	(3.25	)	$	(4.89	)

Restricted stock units (“RSUs”), stock options, and warrants are included in the computation of diluted earnings per share using the treasury stock method. Restricted stock awards are legally considered issued and outstanding when granted and are included in basic weighted average shares outstanding.

The company has issued potentially dilutive instruments such as RSUs, stock options, and warrants. However, the company did not include these instruments in its calculation of diluted loss per share during the periods presented, because to include them would be anti-dilutive. The following table shows potentially dilutive instruments (in thousands):




	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2018	2017	2018	2017
RSUs	1,078	641	1,367	641
Stock options	159	645	163	645
Warrants	1,838	1,838	1,838	1,838
Total	3,075	3,124	3,368	3,124

No events occurred after September 30, 2018 that would materially affect the number of weighted average shares outstanding.