EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is based on the weighted average number of common shares issued and outstanding during each period. Diluted earnings (loss) per share is based on the weighted average number of common shares issued and outstanding and the effect of all dilutive common stock equivalents outstanding during each period. Stock option conversions and stock units were not included in the computation of diluted loss per share for the year ended December 31, 2015 as we incurred a loss 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 earnings (loss) per share:



	Year Ended December 31
	2017		2016		2015
	(In thousands, except share data)
Basic earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	47,422	$	120,617	$	(8,081	)
Denominator:
Average common shares	90,899,284		90,933,886		93,298,467
Basic earnings (loss) per share from continuing operations	$	0.52	$	1.33	$	(0.09	)
Diluted earnings (loss) per share computation:
Numerator:
Income (loss) from continuing operations	$	47,422	$	120,617	$	(8,081	)
Denominator:
Average common shares — basic	90,899,284		90,933,886		93,298,467
Stock option conversion(1)	119,284		246,116		—
RSUs and PSUs(2)	255,426		330,481		—
Average common shares — diluted	91,273,994		91,510,483		93,298,467
Diluted earnings (loss) per share from continuing operations	$	0.52	$	1.32	$	(0.09	)
(1) Anti-dilutive common shares excluded	880,541		1,262,158		2,933,770
(2) Anti-dilutive stock units excluded	442,047		—		340,398