• Filing Date: 2018-03-07
  • Form Type: 10-K
  • Description: Annual report
v3.8.0.1
Earnings Per Share
12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

Note 18 — Earnings Per Share

U.S. GAAP requires the Company to use the two-class method in computing basic earnings (loss) per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common stockholders. These participating securities affect the computation of both basic and diluted (loss) earnings per share during periods of net income (loss).

 

A summary of the numerator and denominator of the basic and fully diluted (loss) earnings per common share is presented below:

 

     (Loss)
Income
(Numerator)
     Shares (a)
(Denominator)
     Per Share
Amount
 
Year Ended December 31, 2017                     

Net loss

   $ (6,893      

Less: Loss attributable to participating securities

     481        
  

 

 

       

Basic and Diluted Loss Per Share:

        

Loss available to common stockholders*

   $ (6,412      8,558      $ (0.75
  

 

 

    

 

 

    

 

 

 

*  Stock options and convertible senior notes were excluded due to antidilutive effect.

   

Year Ended December 31, 2016                     

Net income

   $ 29,021        

Less: Income attributable to participating securities

     (1,545      
  

 

 

       

Basic Earnings Per Share:

        

Income allocated to common stockholders

     27,476        9,326      $ 2.95  
        

 

 

 

Effect of Dilutive Securities:

        

Stock options

     —          54     

Convertible senior notes

     4,244        1,493     
  

 

 

    

 

 

    

Diluted Earnings Per Share:

        

Income available to common stockholders and assumed conversions

   $ 31,720        10,873      $ 2.92  
  

 

 

    

 

 

    

 

 

 
Year Ended December 31, 2015                     

Net income

   $ 65,861        

Less: Income attributable to participating securities

     (3,398      
  

 

 

       

Basic Earnings Per Share:

        

Income allocated to common stockholders

     62,463        9,602      $ 6.51  
        

 

 

 

Effect of Dilutive Securities:

        

Stock options

     —          102     

Convertible senior notes

     4,505        1,651     
  

 

 

    

 

 

    

Diluted Earnings Per Share:

        

Income available to common stockholders and assumed conversions

   $ 66,968        11,355      $ 5.90  
  

 

 

    

 

 

    

 

 

 

(a)   Shares in thousands.