Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings (Loss) Per Share

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. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS:

	Three Months Ended June 30				Six Months Ended June 30
	2017		2016		2017		2016
	(In thousands, except share data)
Basic earnings (loss) per share computation:
Numerator:
Income	$	17,647	$	33,371	$	7,888	$	72,572
Denominator:
Average common shares	90,882,415		91,244,745		90,796,585		91,406,969
Basic earnings per share	$	0.19	$	0.37	$	0.09	$	0.79
Diluted earnings (loss) per share computation:
Numerator:
Income	$	17,647	$	33,371	$	7,888	$	72,572
Denominator:
Average common shares — basic	90,882,415		91,244,745		90,796,585		91,406,969
Stock option conversion(1)	220,318		232,113		232,495		258,164
RSUs and PSUs(2)	266,297		202,955		336,866		329,945
Average common shares — diluted	91,369,030		91,679,813		91,365,946		91,995,078
Diluted earnings per share	$	0.19	$	0.36	$	0.09	$	0.79
(1) Anti-dilutive options excluded	655,700		1,282,259		776,710		1,349,300
(2) Anti-dilutive stock units excluded	8,959		5,911		4,504		—