| Computation of basic and diluted earnings per common share |
Computations of basic and diluted earnings per common share of the Company for the three and six months ended June 30, 2016 and 2015 were as follows (in thousands, except share and per share data):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2016 |
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2015 |
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2016 |
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2015 |
Net income (loss) attributable to Era Group Inc.(1)
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$ |
1,890 |
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$ |
11,163 |
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$ |
(1,880 |
) |
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$ |
11,148 |
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Shares: |
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Weighted average common shares outstanding - basic |
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20,361,533 |
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20,273,780 |
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20,290,735 |
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20,235,082 |
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Net effect of dilutive stock options and restricted stock awards based on the treasury stock method(2)
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2,849 |
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58,877 |
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— |
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60,416 |
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Weighted average common shares outstanding - diluted |
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20,364,382 |
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20,332,657 |
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20,290,735 |
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20,295,498 |
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Earnings (loss) per common share: |
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Basic |
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$ |
0.09 |
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$ |
0.55 |
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$ |
(0.09 |
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$ |
0.55 |
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Diluted |
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$ |
0.09 |
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$ |
0.55 |
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$ |
(0.09 |
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$ |
0.55 |
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(1) |
Excludes net income of $48 and $170 attributable to unvested common shares for the three months ended June 30, 2016 and 2015, respectively, and $0 and $143 for the six months ended June 30, 2016 and 2015, respectively.
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(2) |
Excludes weighted average common shares of 283,764 and 105,000 for the three months ended June 30, 2016 and 2015, respectively, and 292,840 and 79,000 for the six months ended June 30, 2016 and 2015, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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