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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE:
The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods (in thousands, except per share amounts):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Income (numerator):
 
 
 
 
 
Basic:
 
 
 
 
 
Net loss
$
(590,586
)
 
$
(1,090,915
)
 
$
(189,543
)
Net income attributable to participating securities
—

 
—

 
—

Net loss attributable to common stock - basic
$
(590,586
)
 
$
(1,090,915
)
 
$
(189,543
)
Diluted:
 
 
 
 
 
Net loss
$
(590,586
)
 
$
(1,090,915
)
 
$
(189,543
)
Net income attributable to participating securities
—

 
—

 
—

Net loss attributable to common stock - diluted
$
(590,586
)
 
$
(1,090,915
)
 
$
(189,543
)
Weighted average shares (denominator):
 
 
 
 
 
Weighted average shares - basic
5,591

 
5,525

 
5,272

Dilutive effect of stock options
—

 
—

 
—

Weighted average shares - diluted
5,591

 
5,525

 
5,272

Basic loss per share
$
(105.63
)
 
$
(197.45
)
 
$
(35.95
)
Diluted loss per share
$
(105.63
)
 
$
(197.45
)
 
$
(35.95
)

All outstanding stock options were considered antidilutive during the years ended December 31, 2016 (12,900 shares), December 31, 2015 (14,400 shares) and December 31, 2014 (20,500 shares) because we had net losses for such years.
During the years ended December 31, 2016, 2015 and 2014, approximately 79,621, 41,375 and 38,034 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock, the granting of stock awards and the exercise of stock options by employees and nonemployee directors. In May 2014, 575,000 shares of our common stock were issued in a public offering.
For the years ended December 31, 2016, 2015 and 2014, the 2017 Convertible Notes had no dilutive effect on the diluted earnings per share computation as we had net losses for such years. For the years ended December 31, 2016, 2015 and 2014, the average price of our common stock was less than the strike price of the Sold Warrants (as defined in Note 11 – Debt) and therefore, such warrants were not dilutive for such years. Based on the terms of the Purchased Call Options (as defined in Note 11 – Debt), such call options are antidilutive and therefore were not included in the calculation of diluted earnings per share.
On February 15, 2017, our Plan was confirmed by the Bankruptcy Court. The Plan provides, as discussed in Note 2 – Chapter 11 Proceedings, that the Company's currently authorized common stock will be cancelled as of the consummation date of the Bankruptcy Proceedings. On such date, existing holders of common stock in Stone will receive their pro rata share of 5% of the common stock in reorganized Stone and warrants for ownership of up to 15% of reorganized Stone's common equity, exercisable upon the Company reaching certain benchmarks pursuant to the terms of the proposed new warrants.