Earnings Per Share

6 Months Ended

Jun. 30, 2015

A reconciliation between the basic and diluted earnings per share computations (in thousands, except per share amounts) is as follows:



For the Three Months Ended June 30, 2015	Loss (Numerator)			Shares (Denominator)	Per Share Amount
BASIC EPS
Net loss available to common stockholders	$	(61,083	)	64,891	$	(0.94	)
Stock options	—			—
Attributable to participating securities	—			—
DILUTED EPS	$	(61,083	)	64,891	$	(0.94	)

For the Six Months Ended June 30, 2015	Loss (Numerator)			Shares (Denominator)	Per Share Amount
BASIC EPS
Net loss available to common stockholders	$	(183,323	)	64,833	$	(2.83	)
Stock options	—			—
Attributable to participating securities	—			—
DILUTED EPS	$	(183,323	)	64,833	$	(2.83	)

For the Three Months Ended June 30, 2014	Income (Numerator)			Shares (Denominator)	Per Share Amount
Net income available to common stockholders	$	9,592		64,103
Attributable to participating securities	(273		)
BASIC EPS	$	9,319		64,103	$	0.15

Net income available to common stockholders	$	9,592		64,103
Effect of dilutive securities:
Stock options	—			64
Attributable to participating securities	(273		)	—
DILUTED EPS	$	9,319		64,167	$	0.15

For the Six Months Ended June 30, 2014	Income (Numerator)			Shares (Denominator)	Per Share Amount
Net income available to common stockholders	$	19,635		63,940
Attributable to participating securities	(571		)
BASIC EPS	$	19,064		63,940	$	0.30

Net income available to common stockholders	$	19,635		63,940
Effect of dilutive securities:
Stock options	—			56
Attributable to participating securities	(571		)	—
DILUTED EPS	$	19,064		63,996	$	0.30

An aggregate of 0.4 million shares of common stock representing options to purchase common stock and unvested shares of restricted common stock and common shares issuable upon the assumed conversion of the Series B preferred stock totaling 5.1 million shares were not included in the computation of diluted earnings per share for the three and six month periods ended June 30, 2015, respectively, because the inclusion would have been anti-dilutive as a result of the net loss reported for such periods. Options to purchase 1.4 million and 1.5 million shares of common stock were outstanding during the three and six month periods ended June 30, 2015, respectively, and were not included in the computation of diluted earnings per share because the options' exercise prices were in excess of the average market price of the common shares.

Common shares issuable upon the assumed conversion of the Series B preferred stock totaling 5.1 million shares were not included in the computation of diluted earnings per share for the three and six month periods ended June 30, 2014, respectively, because the inclusion would have been anti-dilutive. Options to purchase 0.9 million and 1.1 million shares of common stock were outstanding during the three and six months ended June 30, 2014, respectively, and were not included in the computation of diluted earnings per share because the options' exercise prices were in excess of the average market price of the common shares.