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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
17.    EARNINGS PER SHARE
We determined that the Series B Preferred Shares are a participating security, and accordingly, our basic and diluted net income / loss per share is calculated using the two-class method. Under the two-class method, basic net income / loss per common share is computed by dividing the net income available to common shareholders after deducting contractual amounts of accretion on our Series B Preferred Shares by the weighted-average number of common shares outstanding during the period. Diluted net income / loss per share is computed by dividing the adjusted net income by the weighted-average number of dilutive shares outstanding during the period.
The components of basic and diluted earnings per share are as follows:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016

 
2015

 
2016

 
2015

Loss from continuing operations
$
(141,249
)
 
$
(11,669
)
 
$
(181,943
)
 
$
(81,912
)
Net (income) / loss attributable to noncontrolling interests
(68
)
 
307

 
191

 
564

Less: preferred share accretion paid in kind (Note 12)
(4,440
)
 
(4,264
)
 
(8,950
)
 
(8,405
)
Loss from continuing operations available to common shareholders, net of noncontrolling interest
(145,757
)
 
(15,626
)
 
(190,702
)
 
(89,753
)
Income / (loss) from discontinued operations, net of tax
—

 
2,684

 
—

 
(604
)
Net loss attributable to CME Ltd. available to common shareholders - Basic
$
(145,757
)
 
$
(12,942
)
 
$
(190,702
)
 
$
(90,357
)
 
 
 
 
 
 
 
 
Effect of dilutive securities
 
 
 
 
 
 
 
Preferred share accretion paid in kind
—

 
—

 
—

 
—

Net loss attributable to CME Ltd. available to common shareholders - Diluted
$
(145,757
)
 
$
(12,942
)
 
$
(190,702
)
 
$
(90,357
)
 
 
 
 
 
 
 
 
Weighted average outstanding shares of common stock - Basic (1)
149,083

 
146,743

 
148,080

 
146,675

Dilutive effect of employee stock options and RSUs
—

 
—

 
—

 
—

Weighted average outstanding shares of common stock - Diluted
149,083

 
146,743

 
148,080

 
146,675

 
 
 
 
 
 
 
 
Net (loss) / income per share:
 
 
 
 
 
 
 
Continuing operations attributable to CME Ltd. - Basic and diluted
$
(0.98
)
 
$
(0.11
)
 
$
(1.29
)
 
$
(0.61
)
Discontinued operations attributable to CME Ltd. - Basic and diluted
0.00

 
0.02

 
0.00

 
(0.01
)
Net loss attributable to CME Ltd. - Basic and diluted
(0.98
)
 
(0.09
)
 
(1.29
)
 
(0.62
)
(1) 
For the purpose of computing basic earnings per share, the 11,211,449 shares of Class A common stock underlying the Series A Preferred Share are included in the weighted average outstanding shares of common stock - basic, because the holder of the Series A Preferred Share is entitled to receive any dividends payable when dividends are declared by the Board of Directors with respect to any shares of common stock.
At June 30, 2016, 106,510,057 warrants, stock options, RSUs and shares underlying the Series B Preferred Shares were antidilutive to income from continuing operations and excluded from the calculation of earnings per share. These instruments may become dilutive in the future. As set forth in the Certificate of Designation for the Series B Preferred Shares, the holders of our Series B Preferred Shares are not contractually obligated to share in our losses.