| Schedule of Computation of Earnings per Share |
The following table represents the computation of earnings per share for the three months ended March 31, 2018 and 2017, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2018 |
|
Net Income (Loss)
Available to Common Stockholders (Numerator)
|
|
Shares
(Denominator)
|
|
Per-Share
Amount
|
Basic earnings (loss) per common share |
$ |
(29,702,000 |
) |
|
138,765,995 |
|
|
$ |
(0.21 |
) |
Effect of dilutive securities: |
|
|
|
|
|
Restricted stock units (1)
|
— |
|
|
— |
|
|
— |
|
Mandatory convertible preferred stock (2)
|
$ |
— |
|
|
— |
|
|
— |
|
Diluted earnings (loss) per common share |
$ |
(29,702,000 |
) |
|
138,765,995 |
|
|
$ |
(0.21 |
) |
|
|
|
|
|
|
|
Three months ended March 31, 2017 |
|
Net Income (Loss)
Available to Common Stockholders (Numerator)
|
|
Shares
(Denominator)
|
|
Per-Share
Amount
|
Basic earnings (loss) per common share |
$ |
(39,809,000 |
) |
|
130,142,527 |
|
|
$ |
(0.31 |
) |
Effect of dilutive securities: |
|
|
|
|
|
Restricted stock units (1)
|
— |
|
|
— |
|
|
— |
|
Mandatory convertible preferred stock (2)
|
$ |
— |
|
|
— |
|
|
— |
|
Diluted earnings (loss) per common share |
$ |
(39,809,000 |
) |
|
130,142,527 |
|
|
$ |
(0.31 |
) |
|
|
|
|
|
|
|
|
(1) |
For the three months ended March 31, 2018 and 2017, respectively, all common shares potentially issuable in connection with outstanding restricted stock unit awards have been excluded from the calculation of diluted EPS as the Company incurred losses during the periods, therefore, inclusion of such potential common shares would be anti-dilutive.
|
|
|
(2) |
Weighted average common shares issuable upon the assumed conversion of our Convertible Preferred Stock (as defined below) totaling 23,809,500 shares were excluded from the computation of diluted EPS as such shares would be anti-dilutive.
|
|