8. Earnings/ (Loss) Per Share
The following table presents the calculation of basic and diluted earnings (loss) per common share (in thousands, except per share amounts):
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
Net income (loss)
|
$
|
(1,297
|
)
|
|
$
|
45,928
|
|
|
$
|
56,317
|
|
|
$
|
(265,503
|
)
|
|
Less portion allocated to nonvested shares
|
|
—
|
|
|
|
1,689
|
|
|
|
2,349
|
|
|
|
—
|
|
|
Net income (loss) allocated to common shares
|
$
|
(1,297
|
)
|
|
$
|
44,239
|
|
|
$
|
53,968
|
|
|
$
|
(265,503
|
)
|
|
Weighted average common shares outstanding
|
|
137,575
|
|
|
|
92,243
|
|
|
|
137,547
|
|
|
|
81,748
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted earnings (loss) per common share
|
$
|
(0.01
|
)
|
|
$
|
0.48
|
|
|
$
|
0.39
|
|
|
$
|
(3.25
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares excluded due to being anti-dilutive (weighted-average)
|
|
7,709
|
|
|
|
—
|
|
|
|
—
|
|
|
|
3,833
|
|
|