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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2017
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,
 
2017

 
2016

 
2017

 
2016

Income / (loss) from continuing operations
$
27,798

 
$
(141,249
)
 
$
16,524

 
$
(181,943
)
Net loss / (income) attributable to noncontrolling interests
137

 
(68
)
 
346

 
191

Less: preferred share accretion paid in kind (Note 12)
(2,405
)
 
(4,440
)
 
(4,762
)
 
(8,950
)
Less: income allocated to Series B Preferred Shares
(10,376
)
 
—

 
(4,917
)
 
—

Net income / (loss) attributable to CME Ltd. available to common shareholders — basic
15,154

 
(145,757
)
 
7,191

 
(190,702
)
 
 
 
 
 
 
 
 
Effect of dilutive securities
 
 
 
 
 
 
 
Dilutive effect of Series B Preferred Shares
2,429

 
—

 
1,103

 
—

Net income / (loss) attributable to CME Ltd. available to common shareholders — diluted
$
17,583

 
$
(145,757
)
 
$
8,294

 
$
(190,702
)
 
 
 
 
 
 
 
 
Weighted average outstanding shares of common stock — basic (1)
155,738

 
149,083

 
155,269

 
148,080

Dilutive effect of common stock warrants, employee stock options and RSUs
80,214

 
—

 
75,603

 
—

Weighted average outstanding shares of common stock — diluted
235,952

 
149,083

 
230,872

 
148,080

 
 
 
 
 
 
 
 
Net income / (loss) per share:
 
 
 
 
 
 
 
Net income / (loss) attributable to CME Ltd. — basic
$
0.10

 
$
(0.98
)
 
$
0.05

 
$
(1.29
)
Net income / (loss) attributable to CME Ltd. — diluted
0.07

 
(0.98
)
 
0.04

 
(1.29
)
(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, 2017, 1,109,222 (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.