Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.7.0.1
Earnings per Share (Tables)
6 Months Ended
Jun. 30, 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 (together, the “Series A and B Preferred Stock”) were excluded from the computation of diluted loss per share for the three and six months ended June 30, 2016, as their assumed conversion would have been anti-dilutive.
2 The number of dilutive securities for the three and six months ended June 30, 2017, which is attributable to RSUs and PRSUs, was determined under the “treasury stock” method. For the six months ended June 30, 2016, approximately 26.6 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
 
Successor
 
 
Predecessor
 
Three Months
 
 
Three Months
 
Six Months
 
 
Six Months
 
Ended
 
 
Ended
 
Ended
 
 
Ended
 
June 30, 2017
 
 
June 30, 2016
 
June 30, 2017
 
 
June 30, 2016
Net income (loss)
$
21,329

 
 
$
(67,266
)
 
$
49,410

 
 
$
(100,739
)
Less: Preferred stock dividends 1

 
 
(2,820
)
 

 
 
(5,972
)
Net income (loss) attributable to common shareholders – basic and diluted
$
21,329

 
 
$
(70,086
)
 
$
49,410

 
 
$
(106,711
)
 
 
 
 
 
 
 
 
 
 
Weighted-average shares – basic
14,992

 
 
89,051

 
14,992

 
 
87,496

Effect of dilutive securities 2
58

 
 

 
105

 
 

Weighted-average shares – diluted
15,050

 
 
89,051

 
15,097

 
 
87,496