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Earnings per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings per Share
Note 9 - Earnings Per Share

Basic net income or loss per common share is calculated by dividing net income or loss available to common stockholders by the basic weighted-average common shares outstanding for the respective period. The earnings per share calculations reflect the impact of any repurchases of shares of common stock made by the Company.

Diluted net income or loss per common share is calculated by dividing adjusted net income or loss by the diluted weighted-average common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of unvested RSUs and contingent PSUs. The treasury stock method is used to measure the dilutive impact of these stock awards.

PSUs represent the right to receive, upon settlement of the PSUs after the completion of the three-year performance period, a number of shares of the Company’s common stock that may range from zero to two times the number of PSUs granted on the award date. The number of potentially dilutive shares related to PSUs is based on the number of shares, if any, that would be issuable at the end of the respective reporting period, assuming that date was the end of the contingency period applicable to such PSUs.

Please refer to Note 7 - Compensation Plans for additional discussion of the RSUs and PSUs granted subsequent to June 30, 2016, as part of the Company’s regular annual long-term equity compensation program, in addition to the net RSUs and PSUs settled.

When the Company recognizes a loss from continuing operations, as was the case for the three and six months ended June 30, 2016, and 2015, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of diluted net loss per common share. The following table details the weighted-average anti-dilutive securities related to RSUs and PSUs for the periods presented:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(in thousands)
Anti-dilutive
155

 
590

 
70

 
490



The following table sets forth the calculations of basic and diluted earnings per share:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(in thousands, except per share amounts)
Net loss
$
(168,681
)
 
$
(57,508
)
 
$
(515,891
)
 
$
(110,566
)
Basic weighted-average common shares outstanding
68,102

 
67,483

 
68,090

 
67,473

Add: dilutive effect of unvested RSUs and contingent PSUs
—

 
—

 
—

 
—

Diluted weighted-average common shares outstanding
68,102

 
67,483

 
68,090

 
67,473

Basic net loss per common share
$
(2.48
)
 
$
(0.85
)
 
$
(7.58
)
 
$
(1.64
)
Diluted net loss per common share
$
(2.48
)
 
$
(0.85
)
 
$
(7.58
)
 
$
(1.64
)