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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
EARNINGS (LOSS) PER SHARE

Information related to the calculation of earnings (loss) per share follows:
 
 
Earnings (Loss)
(Numerator)
 
Weighted
Shares
(Denominator)
 
Per-Share
Amount
 
 
(In thousands except per share amounts)
For the three months ended March 31, 2017
 
 
 
 
 
 
Basic earnings per common share
 
$
15,929

 
50,293

 
$
0.32

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

 
568

 
(0.01
)
Diluted earnings per common share
 
$
15,929

 
50,861

 
$
0.31

For the three months ended March 31, 2016
 
 
 
 
 
 
Basic loss per common share
 
$
(41,149
)
 
49,880

 
$
(0.83
)
Effect of dilutive stock options, restricted stock, and SARs
 
—

 
—

 
—

Diluted loss per common share
 
$
(41,149
)
 
49,880

 
$
(0.83
)


Due to the net loss for the three months ended March 31, 2016, approximately 235,000 weighted average shares related to stock options, restricted stock, and SARs were antidilutive and were excluded from the loss 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
 
 
March 31,
 
 
2017
 
2016
Stock options and SARs
 
199,755

 
261,270

Average exercise price
 
$
48.79

 
$
50.34