Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.8.0.1
Earnings per Share (Tables)
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Components of Calculation of Basic and Diluted Earnings Per Share
 
Successor
 
Predecessor
 
 
Predecessor
 
Nine Months Ended
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Net income (loss)
$
43,463

 
$
(3,441
)
 
 
$
1,054,602

Less: Preferred stock dividends 1

 

 
 
(5,972
)
Net income (loss) attributable to common shareholders – basic and diluted
$
43,463

 
$
(3,441
)
 
 
$
1,048,630

 
 
 
 
 
 
 
Weighted-average shares – basic
14,993

 
14,992

 
 
88,013

Effect of dilutive securities 2
69

 

 
 
36,074

Weighted-average shares – diluted
15,062

 
14,992

 
 
124,087

_______________________
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 period from January 1, 2016 through September 12, 2016, as their assumed conversion would have been anti-dilutive.
2 The number of dilutive securities for the three and nine months ended September 30, 2017, which is attributable to RSUs and PRSUs, was determined under the “treasury stock” method.
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 Ended
 
Period From September 13, 2016
 
 
Period From July 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Net income (loss)
$
(5,947
)
 
$
(3,441
)
 
 
$
1,155,341

Less: Preferred stock dividends

 

 
 

Net income (loss) attributable to common shareholders – basic and diluted
$
(5,947
)
 
$
(3,441
)
 
 
$
1,155,341

 
 
 
 
 
 
 
Weighted-average shares – basic
14,994

 
14,992

 
 
89,292

Effect of dilutive securities 1

 

 
 
22,166

Weighted-average shares – diluted
14,994

 
14,992

 
 
111,458


_______________________
1
The number of dilutive securities for the three months ended September 30, 2017, which is attributable to RSUs and PRSUs, was determined under the “treasury stock” method. For the three months ended September 30, 2017, approximately 0.1 million of potentially dilutive securities attributable to RSUs had the effect of being anti-dilutive and were excluded from the calculation of diluted loss per common share.
 
Successor
 
Predecessor
 
 
Predecessor
 
Nine Months Ended
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Net income (loss)
$
43,463

 
$
(3,441
)
 
 
$
1,054,602

Less: Preferred stock dividends 1

 

 
 
(5,972
)
Net income (loss) attributable to common shareholders – basic and diluted
$
43,463

 
$
(3,441
)
 
 
$
1,048,630

 
 
 
 
 
 
 
Weighted-average shares – basic
14,993

 
14,992

 
 
88,013

Effect of dilutive securities 2
69

 

 
 
36,074

Weighted-average shares – diluted
15,062

 
14,992

 
 
124,087

_______________________
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 period from January 1, 2016 through September 12, 2016, as their assumed conversion would have been anti-dilutive.
2 The number of dilutive securities for the three and nine months ended September 30, 2017, which is attributable to RSUs and PRSUs, was determined under the “treasury stock” method.