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Earnings (Loss) Per Common Share
 9 Months Ended
Sep. 30, 2013
Earnings (Loss) Per Common Share

2. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share are calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, and, for the nine months ended September 30, 2012, shares issuable upon the potential conversion of our 33/4% senior subordinated convertible notes due on July 15, 2012 (“Convertible Notes”), each using the treasury stock method. The conversion feature of our Convertible Notes had a dilutive effect on our earnings per share for the nine months ended September 30, 2012, assuming the conversion premium was converted into common stock based on the average closing price per share of our stock during such period, because the average closing price per share of our common stock for such period was above the conversion price of the Convertible Notes of $31.25 per share. Due to a net loss applicable to common stockholders, we excluded 1,150 potentially dilutive securities for the three months ended September 30, 2013 and 1,173 potentially dilutive securities for the nine months ended September 30, 2013, as their effect would be anti-dilutive. 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2013     2012      2013     2012  

Numerator—basic and diluted

          

Net income (loss)

    $ (50,621 )    $ 22,713       $ (3,455 )    $ 48,891   
  

 

 

    

 

 

     

 

 

    

 

 

  

Denominator

          

Weighted average number of common shares outstanding—basic

      39,094        40,387         39,212        40,446   

Effect of dilutive stock options

      —          160         —          590   

Effect of dilutive convertible notes

      —          —           —          224   

Effect of dilutive restricted shares

      —          555         —          622   
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted average number of common shares outstanding—diluted

      39,094        41,102         39,212        41,882   
  

 

 

    

 

 

     

 

 

    

 

 

  

Earnings (loss) per common share—basic

    $ (1.29 )    $ 0.56       $ (0.09 )    $ 1.21   
  

 

 

    

 

 

     

 

 

    

 

 

  

Earnings (loss) per common share—diluted

    $ (1.29 )    $ 0.55       $ (0.09 )    $ 1.17   
  

 

 

    

 

 

     

 

 

    

 

 

  

Antidilutive stock options and restricted shares

      4,586        5,421         4,677        3,678