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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
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 Year Ended December 31,
 
2016

 
2015

 
2014

Loss from continuing operations
$
(180,597
)
 
$
(102,285
)
 
$
(151,465
)
Net loss attributable to noncontrolling interests
306

 
671

 
4,468

Less: preferred dividend paid in kind (Note 11)
(13,701
)
 
(17,272
)
 
(16,036
)
Loss from continuing operations available to common shareholders, net of noncontrolling interest
(193,992
)
 
(118,886
)
 
(163,033
)
Loss from discontinued operations, net of tax
—

 
(13,287
)
 
(80,431
)
Net loss attributable to CME Ltd. available to common shareholders - Basic
$
(193,992
)
 
$
(132,173
)
 
$
(243,464
)
 
 
 
 
 
 
Effect of dilutive securities
 
 
 
 
 
Preferred dividend paid in kind
—

 
—

 
—

Net loss attributable to CME Ltd. available to common shareholders - Diluted
$
(193,992
)
 
$
(132,173
)
 
$
(243,464
)
 
 
 
 
 
 
Weighted average outstanding shares of common stock - Basic (1)
151,017

 
146,866

 
146,509

Dilutive effect of employee stock options and RSUs
—

 
—

 
—

Weighted average outstanding shares of common stock - Diluted
151,017

 
146,866

 
146,509

 
 
 
 
 
 
Net loss per share:
 
 
 
 
 
Continuing operations attributable to CME Ltd. - Basic and diluted
$
(1.28
)
 
$
(0.81
)
 
$
(1.11
)
Discontinued operations attributable to CME Ltd. - Basic and diluted
—

 
(0.09
)
 
(0.55
)
Net loss attributable to CME Ltd. - Basic and diluted
(1.28
)
 
(0.90
)
 
(1.66
)
(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 the common stock.
At December 31, 2016, 108,396,778 (December 31, 2015: 3,221,575) 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.