| 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, 2017 and 2016 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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2017 |
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2016 |
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2017 |
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2016 |
Net income (loss) attributable to Era Group Inc. |
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$ |
(2,787 |
) |
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$ |
1,938 |
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$ |
(8,407 |
) |
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$ |
(1,880 |
) |
Net income attributable to participating securities |
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— |
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48 |
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— |
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— |
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Net income (loss) attributable to fully vested common stock |
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$ |
(2,787 |
) |
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$ |
1,890 |
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$ |
(8,407 |
) |
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$ |
(1,880 |
) |
Shares: |
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Weighted average common shares outstanding - basic |
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20,789,537 |
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20,361,533 |
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20,650,274 |
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20,290,735 |
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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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2,849 |
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— |
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— |
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Weighted average common shares outstanding - diluted |
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20,789,537 |
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20,364,382 |
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20,650,274 |
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20,290,735 |
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Income (loss) per common share: |
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Basic |
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$ |
(0.13 |
) |
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$ |
0.09 |
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$ |
(0.41 |
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$ |
(0.09 |
) |
Diluted |
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$ |
(0.13 |
) |
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$ |
0.09 |
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$ |
(0.41 |
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$ |
(0.09 |
) |
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(1) |
Excludes weighted average common shares of 275,851 and 283,764 for the three months ended June 30, 2017 and 2016, respectively, and 280,199 and 292,840 for the six months ended June 30, 2017 and 2016, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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