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Earnings per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
2017
 
2016
 
2017
 
2016
 
 
 
(In thousands, except per share data)
 
Numerator:
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
7,195

 
$
(46,937
)
 
$
20,885

 
$
(87,817
)
 
Denominator:
 
 

 
 

 
 
 
 
 
Denominator for basic earnings per share – weighted-average common shares outstanding
 
162,357

 
116,120

 
158,259

 
110,415

 
Effect of dilutive securities:
Stock options and restricted shares
 
1,448

 
—

 
1,683

 
—

 
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed exercise of options and restricted shares
 
163,805

 
116,120

 
159,942

 
110,415

 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per common share - basic
 
$
0.04

 
$
(0.40
)
 
$
0.13

 
$
(0.80
)
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per common share - diluted
 
$
0.04

 
$
(0.40
)
 
$
0.13

 
$
(0.80
)
 

 
Basic net income (loss) per share, excluding any dilutive effects of stock options and unvested restricted stock, is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share is computed in a manner similar to basic; however diluted net income (loss) per share reflects the assumed conversion of all potentially dilutive securities. For the three and six months ended June 30, 2016, potential shares of 1,712 and 1,675, respectively, related to unvested restricted shares and options were excluded from the calculation of diluted net income (loss) per share since their inclusion would have been anti-dilutive due to losses incurred in the period. There were no shares excluded for the three and six months ended June 30, 2017.