Earnings per Share

Basic earnings per share (“EPS”) excludes dilution for potential common stock issuances and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, including: (1) shares issuable upon the vesting of RSUs and common stock option exercises using the treasury stock method; and (2) shares issuable upon the conversion of the Company's MCPS, as determined under the if-converted method. For purposes of calculating diluted EPS, preferred stock dividends have been subtracted from net income (loss) in periods in which utilizing the if-converted method would be anti-dilutive.

The computation of basic and diluted EPS is as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
($ in thousands, except per share amounts)
Net Income	$	28		$	8,700		$	13,773		$	20,570
Noncontrolling interests	(333		)	(612		)	(1,051		)	(119		)
Net (Loss) Income Attributable to Stockholders	(305		)	8,088			12,722			20,451
Preferred stock dividends	(2,084		)	—			(4,168		)	—
Net (Loss) Income Attributable to Common Stockholders	$	(2,389	)	$	8,088		$	8,554		$	20,451
Shares (in thousands):
Basic: Weighted-average number of shares outstanding	7,064			8,170			6,804			8,257
Plus: Incremental shares from assumed conversion of dilutive instruments	—			144			216			153
Diluted: Weighted-average number of shares outstanding	7,064			8,314			7,020			8,410
(Loss) Earnings per Share—Basic	$	(0.34	)	$	0.99		$	1.26		$	2.48
(Loss) Earnings per Share—Diluted	$	(0.34	)	$	0.97		$	1.22		$	2.43

The following table details the securities that have been excluded from the above computation of weighted-average number of shares for diluted EPS, because the effect would be anti-dilutive.



	Three Months Ended June 30,		Six Months Ended June 30,
	2017	2016	2017	2016
(in thousands)
Restricted stock units and stock options	202	6	1	10
Preferred stock	1,037	—	859	—
Total anti-dilutive securities	1,239	6	860	10