Annual report pursuant to Section 13 and 15(d)

Earnings per Share (Tables)

v3.6.0.2
Earnings per Share (Tables)
12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Components of Calculation of Basic and Diluted Earnings Per Share
The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings per share utilizing the two-class method for the periods presented:
 
Successor
 
 
Predecessor
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
Year Ended December 31,
 
Through December 31, 2016
 
 
Through September 12, 2016
 
2015
 
2014
Net income (loss)
$
(5,296
)
 
 
$
1,054,602

 
$
(1,582,961
)
 
$
(409,592
)
Less: Preferred stock dividends 1

 
 
(5,972
)
 
(22,789
)
 
(17,148
)
Less: Induced conversion of preferred stock

 
 

 

 
(4,256
)
Net income (loss) attributable to common shareholders – basic and diluted
$
(5,296
)
 
 
$
1,048,630

 
$
(1,605,750
)
 
$
(430,996
)
 
 
 
 
 
 
 
 
 
Weighted-average shares – basic
14,992

 
 
88,013

 
73,639

 
68,887

Effect of dilutive securities 2

 
 
36,074

 

 

Weighted-average shares – diluted
14,992

 
 
124,087

 
73,639

 
68,887

______________________
1 Preferred stock dividends were excluded from diluted earnings per share for the years ended December 31, 2015 and 2014, respectively, as the assumed conversion of the outstanding preferred stock would have been anti-dilutive.
2 For the period from September 13, 2016 through December 31, 2016, less than 0.1 million potentially dilutive securities, represented by restricted stock units, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per common share. For 2015 and 2014, respectively, approximately 30.2 million and 26.6 million potentially dilutive securities, including the Series A and Series B Preferred Stock, stock options and restricted stock units had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per common share.