Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2017

Basic earnings (loss) per share (“EPS”) is based on the weighted average number of common shares outstanding during each period. Diluted EPS is based on the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents outstanding during each period. Stock option conversions and RSUs were not included in the computation of diluted loss per share for the three months ended March 31, 2017 as we incurred a loss from continuing operations for this period and any effect on loss per share would have been anti-dilutive. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS:



	Three Months Ended March 31
	2017			2016
	(In thousands, except share data)
Basic earnings (loss) per share computation:
Numerator:
Income (loss)	$	(9,759	)	$	39,201
Denominator:
Average common shares	90,709,802			91,567,119
Basic earnings (loss) per share	$	(0.11	)	$	0.43
Diluted earnings (loss) per share computation:
Numerator:
Income (loss)	$	(9,759	)	$	39,201
Denominator:
Average common shares — basic	90,709,802			91,567,119
Stock option conversion(1)	—			287,657
RSUs and PSUs(2)	—			313,527
Average common shares — diluted	90,709,802			92,168,303
Diluted earnings (loss) per share	$	(0.11	)	$	0.43
(1) Anti-dilutive options excluded	1,760,843			1,403,295
(2) Anti-dilutive stock units excluded	1,082,207			172,195