| 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 nine months ended September 30, 2016 and 2015 were as follows (in thousands, except share and per share data):
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Three Months Ended
September 30, |
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Nine Months Ended
September 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. |
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$ |
(560 |
) |
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$ |
861 |
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$ |
(2,440 |
) |
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$ |
12,152 |
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Net income attributable to participating securities |
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— |
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13 |
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— |
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163 |
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Net income (loss) attributable to fully vested common stock |
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$ |
(560 |
) |
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$ |
848 |
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$ |
(2,440 |
) |
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$ |
11,989 |
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Shares: |
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Weighted average common shares outstanding - basic |
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20,384,348 |
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20,260,514 |
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20,322,167 |
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20,243,653 |
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Net effect of dilutive stock options and restricted stock awards based on the treasury stock method(1)
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— |
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26,555 |
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— |
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49,129 |
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Weighted average common shares outstanding - diluted |
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20,384,348 |
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20,287,069 |
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20,322,167 |
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20,292,782 |
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Earnings (loss) per common share: |
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Basic |
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$ |
(0.03 |
) |
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$ |
0.04 |
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$ |
(0.12 |
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$ |
0.59 |
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Diluted |
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$ |
(0.03 |
) |
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$ |
0.04 |
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$ |
(0.12 |
) |
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$ |
0.59 |
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(1) |
Excludes weighted average common shares of 290,887 and 331,145 for the three months ended September 30, 2016 and 2015, respectively, and 292,189 and 163,048 for the nine months ended September 30, 2016 and 2015, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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