Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.7.0.1
Earnings per Share (Tables)
3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Components of Calculation of Basic and Diluted Earnings Per Share
_______________________
1 Dividends attributable to our Series A 6% Convertible Perpetual Preferred Stock and Series B 6% Convertible Perpetual Preferred Stock (the “Series A and B Preferred Stock”) were excluded from the computation of diluted loss per share for the three months ended March 31, 2016, as their assumed conversion would have been anti-dilutive.
2 The number of dilutive securities for the three months ended March 31, 2017, which is attributable to RSUs, was determined under the “treasury stock” method. The effect of PRSUs was anti-dilutive for the 2017 period. For the three months ended March 31, 2016, approximately 27.6 million of 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 loss per common share.
The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented:
 
Successor
 
 
Predecessor
 
Three Months
 
 
Three Months
 
Ended
 
 
Ended
 
March 31, 2017
 
 
March 31, 2016
Net income (loss)
$
28,407

 
 
$
(33,473
)
Less: Preferred stock dividends 1

 
 
$
(3,152
)
Net income (loss) attributable to common shareholders – basic and diluted
$
28,407

 
 
$
(36,625
)
 
 
 
 
 
Weighted-average shares – basic
14,992

 
 
85,941

Effect of dilutive securities 2
134

 
 

Weighted-average shares – diluted
15,126

 
 
85,941