XML 33 R23.htm IDEA: XBRL DOCUMENT v3.19.1
Earnings Per Share
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

14. Earnings Per Share

The Company provides a dual presentation of its net loss per common share in its unaudited condensed consolidated statements of operations: basic net loss per common share (“Basic EPS”) and diluted net loss per common share (“Diluted EPS”).

Basic EPS excludes dilution and is computed by first allocating earnings between common stockholders and holders of non-vested shares of restricted stock.  Basic EPS is then determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period, excluding non-vested shares of restricted stock.

Diluted EPS is based on the weighted average number of common shares outstanding plus the dilutive effect of potential common shares, including stock options, non-vested shares of restricted stock, performance units and restricted stock units.  The dilutive effect of stock options, performance units and restricted stock units is determined using the treasury stock method.  The dilutive effect of non-vested shares of restricted stock is based on the more dilutive of the treasury stock method or the two-class method, assuming a reallocation of undistributed earnings to common stockholders after considering the dilutive effect of potential common shares other than non-vested shares of restricted stock.

The following table presents information necessary to calculate net loss per share for the three months ended March 31, 2019 and 2018 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):

 

 

Three Months Ended

 

 

March 31,

 

 

2019

 

 

2018

 

BASIC EPS:

 

 

 

 

 

 

 

Net loss attributed to common stockholders

$

(28,614

)

 

$

(34,417

)

Weighted average number of common shares outstanding, excluding

   non-vested shares of restricted stock

 

211,868

 

 

 

220,783

 

Basic net loss per common share

$

(0.14

)

 

$

(0.16

)

DILUTED EPS:

 

 

 

 

 

 

 

Net loss attributed to common stockholders

$

(28,614

)

 

$

(34,417

)

Weighted average number of common shares outstanding, excluding

   non-vested shares of restricted stock

 

211,868

 

 

 

220,783

 

Add dilutive effect of potential common shares

 

 

 

 

 

Weighted average number of diluted common shares outstanding

 

211,868

 

 

 

220,783

 

Diluted net loss per common share

$

(0.14

)

 

$

(0.16

)

Potentially dilutive securities excluded as anti-dilutive

 

10,033

 

 

 

9,738