EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing our net income (loss) by the weighted average number of shares outstanding during the period. For diluted earnings per share, the dilutive impact of stock options, warrants and bifurcated conversion options of the 2033 Senior Notes is determined by applying the “treasury stock” method. In the periods in which their effect would be antidilutive, no effect has been given to outstanding options, warrants or the potentially dilutive shares issuable pursuant to the 2033 Senior Notes (defined in Note 6) in the dilutive computation. The following table sets forth the computation of basic and diluted earnings (loss) per share:



	For the three months ended June 30,						For the six months ended June 30,
(Shares in thousands)	2016			2015			2016			2015
Numerator
Net income (loss) attributable to common shareholders, basic	$	15,533		$	(42,766	)	$	3,554		$	(159,878	)
Add: Interest on 2033 Senior Notes	604			—			1,196			—
Change in FV of embedded derivative income	(4,872		)	—			(4,734		)	—
Net income (loss) attributable to common shareholders, diluted	$	11,265		$	(42,766	)	$	16		$	(159,878	)

Denominator
(Shares in thousands)
Weighted average common shares outstanding, basic	547,559			462,253			546,691			454,361
Effect of dilutive securities:
Stock options	4,264			—			4,222			—
Warrants	661			—			1,267			—
2033 Senior Notes	4,556			—			4,556			—
Dilutive potential shares	9,481			—			10,045			—
Weighted average common shares outstanding, diluted	557,040			462,253			556,736			454,361

Earnings (loss) per share, basic	$	0.03		$	(0.09	)	$	0.01		$	(0.35	)
Earnings (loss) per share, diluted	$	0.02		$	(0.09	)	$	—		$	(0.35	)

A total of 11,261,582 and 14,375,502 potential shares of Common Stock have been excluded from the calculation of diluted net loss per share for the three and six months ended June 30, 2015, respectively, because their inclusion would be antidilutive.

During the three months ended June 30, 2016, 439,238 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 318,082 shares of Common Stock. Of the 439,238 Common Stock options and Common Stock warrants exercised, 121,156 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.

During the six months ended June 30, 2016, 2,238,537 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 2,113,157 shares of Common Stock. Of the 2,238,537 Common Stock options and Common Stock warrants exercised, 125,380 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.

During the three months ended June 30, 2015, 2,106,679 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 2,106,634 shares of Common Stock. Of the 2,106,679 Common Stock options and Common Stock warrants exercised, 45 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.

During the six months ended June 30, 2015, 24,168,461 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 22,635,661 shares of Common Stock. Of the 24,168,461 Common Stock options and Common Stock warrants exercised, 1,206,654 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.