Earnings (loss) per common share

9 Months Ended

Sep. 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		Nine Months Ended
	September 30,		September 30,
	2015	2014	2015	2014
	(In thousands)
Weighted average common shares outstanding - basic	195,151	193,949	194,814	191,958
Effect of dilutive performance share awards	18	351	19	349
Weighted average common shares outstanding - diluted	195,169	194,300	194,833	192,307
Shares excluded from the calculation of diluted earnings per share	—	—	—	—