Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Tables)

v3.3.1.900
Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

For the Year Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

Net income (loss)

 

$

(240,139)

 

$

37,766 

 

$

4,304 

Preferred stock dividends

 

 

(7,895)

 

 

(7,895)

 

 

(4,627)

Income (loss) available to common stockholders

 

$

(248,034)

 

$

29,871 

 

$

(323)

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

65,708 

 

 

44,848 

 

 

40,133 

Dilutive impact of restricted stock

 

 

 

 

1,113 

 

 

Weighted average shares outstanding for diluted income (loss) per share (a)

 

 

65,708 

 

 

45,961 

 

 

40,133 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share

 

$

(3.77)

 

$

0.67 

 

$

(0.01)

Diluted income (loss) per share

 

$

(3.77)

 

$

0.65 

 

$

(0.01)

 

 

 

 

 

 

 

The following were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive:

Stock options

 

 

15 

 

 

30 

 

 

52 

Restricted stock

 

 

126 

 

 

317 

 

 

398 

 

(a)

Because the Company reported a loss available to common stockholders for the years ended December 31, 2015 and 2013, no unvested stock awards were included in computing loss per share because the effect was anti-dilutive.