Earnings per Share

Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period, excluding dilution for potential common stock issuances. 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 September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
($ in thousands, except per share amounts)
Net Income (Loss)	$	20,523		$	16,276		$	34,296		$	36,846
Noncontrolling interests	(1,731		)	(651		)	(2,782		)	(770		)
Net Income (Loss) Attributable to Stockholders	18,792			15,625			31,514			36,076
Preferred stock dividends	(2,084		)	—			(6,252		)	—
Net Income (Loss) Attributable to Common Stockholders	$	16,708		$	15,625		$	25,262		$	36,076
Shares (in thousands):
Basic: Weighted-average number of shares outstanding	7,212			7,676			6,942			8,062
Plus: Incremental shares from assumed conversion of dilutive instruments	1,280			178			226			161
Diluted: Weighted-average number of shares outstanding	8,492			7,854			7,168			8,223
Earnings (Loss) per Share—Basic	$	2.32		$	2.04		$	3.64		$	4.47
Earnings (Loss) per Share—Diluted	$	2.21		$	1.99		$	3.52		$	4.39

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 September 30,		Nine Months Ended September 30,
	2017	2016	2017	2016
(in thousands)
Restricted stock units and stock options	4	12	4	11
Preferred stock	—	—	878	—
Total anti-dilutive securities	4	12	882	11