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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE     
The following are computations of basic and diluted earnings (loss) per share (in thousands except for per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
Numerator for basic and diluted earnings per share:
 

 
 

 
 
 
 
Net income (loss)
$
40,228

 
$
(93,337
)
 
$
43,534

 
$
(55,705
)
 
 
 
 
 
 
 
 
Denominator:
 

 
 

 
 
 
 
Basic shares outstanding
58,161

 
60,369

 
58,799

 
60,585

Dilutive effect of equity-based compensation awards
107

 
—

 
99

 
—

Dilutive shares outstanding
58,268

 
60,369

 
58,898

 
60,585

 
 
 
 
 
 
 
 
Basic earnings (loss) per share:
$
0.69

 
$
(1.55
)
 
$
0.74

 
$
(0.92
)
 
 

 
 

 
 

 
 

Diluted earnings (loss) per share:
$
0.69

 
$
(1.55
)
 
$
0.74

 
$
(0.92
)

For the three and nine months ended September 30, 2015, the dilutive effect of all then outstanding stock options, restricted stock awards and performance awards is included in the EPS calculations above except for 274,257 of outstanding performance stock awards for which the performance criteria were not attained at that time and 10,704 and 42,642, respectively, restricted stock awards which were excluded from the calculation of diluted earnings per share as their inclusion would have an antidilutive effect. As a result of the net loss reported in the three and nine months ended September 30, 2014, all outstanding restricted stock awards and performance awards totaling 624,145 instruments were excluded from the calculation of diluted earnings per share as their inclusion would have an antidilutive effect.