Earnings (loss) per common share

6 Months Ended

Jun. 30, 2015

Basic earnings (loss) per common share were computed by dividing earnings (loss) on common stock by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings (loss) per common share were computed by dividing earnings (loss) on common stock by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of outstanding performance share awards. Common stock outstanding includes issued shares less shares held in treasury. Net income (loss) was the same for both the basic and diluted earnings (loss) per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings (loss) per share calculations was as follows:



	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2015	2014	2015	2014
	(In thousands)
Weighted average common shares outstanding - basic	194,805	192,060	194,643	190,946
Effect of dilutive performance share awards	33	599	32	597
Weighted average common shares outstanding - diluted	194,838	192,659	194,675	191,543
Shares excluded from the calculation of diluted earnings per share	—	—	—	—