XML 55 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Schedule of weighted average number of shares
The table below shows the effect of the Reverse Split on the calculation of per share amounts previously reported.
 
 
Three Months Ending
 
Year Ended
 
Three
Months Ending
(Thousands of shares)
March 31,
2015
 
June 30,
2015
 
September 30,
2015
 
December 31, 2015
 
December 31, 2015
 
March 31,
2016
 
(unaudited)
 
 
 
(unaudited)
Decrease in weighted average number of shares outstanding used to calculate basic net income/(loss) per share amounts for Class A
(477,862
)
 
(477,881
)
 
(477,949
)
 
(477,996
)
 
(477,923
)
 
(473,688
)
 
 
 
 
 
 
 
 
 
 
 
 
Decrease in weighted average number of shares outstanding used to calculate diluted net income/(loss) per share amounts for Class A
(477,862
)
 
(478,109
)
 
(477,996
)
 
(477,996
)
 
(478,145
)
 
(473,688
)
 
 
 
 
 
 
 
 
 
 
 
 
Decrease in weighted average number of shares outstanding used to calculate basic and diluted net income/(loss) per share amounts for Class B
(6,604
)
 
(6,602
)
 
(6,600
)
 
(6,600
)
 
(6,602
)
 
(6,600
)
Components of calculation of earnings per share
The components of the calculation of basic earnings per share and diluted earnings per share are as follows:
 
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
Income/(loss) from continuing operations
 
$
55,978

 
$
(1,059
)
 
$
80,565

(Loss)/income from discontinued operations
 
—

 
(292,555
)
 
203,395

Net income/(loss)
 
$
55,978


$
(293,614
)

$
283,960

 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
Class A common stock - basic
 
87,834,769

 
90,949,577

 
95,584,559

Class A common stock - diluted
 
88,082,978

 
90,949,577

 
95,629,090

Class B common stock - basic
 
—

 
533,758

 
1,320,337

Class B common stock - diluted
 
—

 
533,758

 
1,320,337

 

Reconciliations of the numerator of the basic and diluted earnings per share computations are as follows:
 
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
Net income/(loss) from continuing operations allocated to:
 
 

 
 

 
 

Class A Common Stockholders
 
$
55,957

 
$
(1,002
)
 
$
79,424

Class B Common Stockholders (2)
 
—

 
(57
)
 
1,097

Participating securities (1)
 
21

 
—

 
44

 
 
$
55,978


$
(1,059
)

$
80,565

 
 
 
 
 
 
 
Net income/(loss) from discontinued operations allocated to:
 
 
 
 
 
 
Class A Common Stockholders
 
$
—

 
$
(295,001
)
 
$
200,515

Class B Common Stockholders (2)
 
—

 
2,426

 
2,770

Participating securities (1)
 
—

 
20

 
110

 
 
$
—


$
(292,555
)

$
203,395