EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

Basic (loss) earnings per share (“EPS”) is calculated by dividing net (loss) income attributable to the Company by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing net (loss) income attributable to the Company by the weighted average number of shares of common stock outstanding, plus potentially dilutive securities. Potentially dilutive securities are calculated using the treasury stock method.

The Company completed an IPO on May 20, 2015 in which the Initial Shareholders, immediately prior to the consummation of the IPO, received shares in proportion to their respective ownership percentages. As a result, the Company has retrospectively presented the shares outstanding for all prior periods presented. 

The calculation of basic and diluted EPS is presented below (in thousands, except share and per share data).

 
Year Ended December 31,
 
2015
 
2014
 
2013
Net Income (loss) Attributable to Shareholders
$
(11,826
)
 
$
7,780

 
$
24,821

Weighted Average Shares Outstanding - Basic
67,039,439

 
53,502,873

 
53,502,873

Weighted Average Shares Outstanding - Diluted
67,039,439

 
53,502,873

 
53,502,873

 
 
 
 
 
 
Basic and Diluted EPS
$
(0.18
)
 
$
0.15

 
$
0.46



For the year ended December 31, 2015, 1,507 shares have been excluded from the calculation of Diluted EPS because the impact would be anti-dilutive.