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Earnings Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE

Information related to the calculation of earnings per share follows:
 
 
Income (Loss)
(Numerator)
 
Weighted
Shares
(Denominator)
 
Per-Share
Amount
 
 
(In thousands except per share amounts)
For the three months ended September 30, 2015
 
 
 
 
 
 
Basic earnings (loss) per common share
 
$
(205,281
)
 
49,155

 
$
(4.18
)
Effect of dilutive stock options, restricted stock, and stock appreciation rights (SARs)
 
—

 
—

 
—

Diluted earnings (loss) per common share
 
$
(205,281
)
 
49,155

 
$
(4.18
)
For the three months ended September 30, 2014
 
 
 
 
 
 
Basic earnings per common share
 
$
67,522

 
48,650

 
$
1.39

Effect of dilutive stock options, restricted stock, and SARs
 
—

 
527

 
(0.02
)
Diluted earnings per common share
 
$
67,522

 
49,177

 
$
1.37



Due to the net loss for the three months ended September 30, 2015, approximately 296,000 weighted average shares related to stock options, restricted stock, and SARs were antidilutive and were excluded from the earnings per share calculation above.

The following table shows the number of stock options and SARs (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:
 
 
Three Months Ended
 
 
September 30,
 
 
2015
 
2014
Stock options and SARs
 
261,270

 
24,500

Average exercise price
 
$
50.34

 
$
73.26




 
 
Income (Loss)
(Numerator)
 
Weighted
Shares
(Denominator)
 
Per-Share
Amount
 
 
(In thousands except per share amounts)
For the nine months ended September 30, 2015
 
 
 
 
 
 
Basic earnings (loss) per common share
 
$
(728,024
)
 
49,094

 
$
(14.83
)
Effect of dilutive stock options, restricted stock, and SARs
 
—

 
—

 
—

Diluted earnings (loss) per common share
 
$
(728,024
)
 
49,094

 
$
(14.83
)
For the nine months ended September 30, 2014
 
 
 
 
 
 
Basic earnings per common share
 
$
178,827

 
48,596

 
$
3.68

Effect of dilutive stock options, restricted stock, and SARs
 
—

 
458

 
(0.03
)
Diluted earnings per common share
 
$
178,827

 
49,054

 
$
3.65



Due to the net loss for the nine months ended September 30, 2015, approximately 204,000 weighted average shares related to stock options, restricted stock, and SARs were antidilutive and were excluded from the earnings per share calculation above.

The following table shows the number of stock options and SARs (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:
 
 
Nine Months Ended
 
 
September 30,
 
 
2015
 
2014
Stock options and SARs
 
261,270

 
49,000

Average exercise price
 
$
50.34

 
$
67.83