Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2013

3. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share are calculated by dividing net earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per 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 shares issuable upon the potential conversion of our 3³/₄% senior subordinated convertible notes (“Convertible Notes”) prior to their maturity on July 15, 2012 and payment in full on July 16, 2012 assuming the conversion premium was converted into common stock based on the average closing price per share of our stock during the period, each using the treasury stock method. Due to a net loss applicable to common stockholders for the years ended December 31, 2013 and 2012, respectively, we excluded 1,232,880 and 1,261,913 potentially dilutive securities from the computation as their effect would be anti-dilutive.


	Year Ended December 31,
	2013			2012			2011
Numerator — basic and diluted
Net income (loss)	$	(10,594	)	$	(36,986	)	$	103,903

Denominator
Weighted average number of common shares outstanding — basic		39,188			40,316			41,131
Effect of dilutive stock options		—			—			915
Effect of dilutive convertible notes		—			—			836
Effect of dilutive restricted shares		—			—			591

Weighted average number of common shares outstanding — diluted		39,188			40,316			43,473

Earnings (loss) per common share — basic	$	(0.27	)	$	(0.92	)	$	2.53

Earnings (loss) per common share — diluted	$	(0.27	)	$	(0.92	)	$	2.39

Antidilutive stock options and restricted shares		4,363			4,943			2,119

- Definition

The entire disclosure for earnings per share.

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