Earnings per common share

9 Months Ended

Sep. 30, 2012

Earnings (loss) per common share

Basic earnings (loss) per common share were computed by dividing earnings (loss) on common stock by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per common share were computed by dividing earnings on common stock by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of outstanding performance share awards. Diluted loss per common share for the three months ended September 30, 2012, was computed by dividing the loss on common stock by the weighted average number of shares of common stock outstanding during the applicable period. Due to the loss on common stock for the three months ended September 30, 2012, the effect of outstanding performance share awards was excluded from the computation of diluted loss per common share as their effect was antidilutive. Common stock outstanding includes issued shares less shares held in treasury. Net income (loss) was the same for both the basic and diluted earnings (loss) per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings (loss) per share calculation was as follows:



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2012	2011	2012	2011
	(In thousands)
Weighted average common shares outstanding - basic	188,831	188,794	188,824	188,753
Effect of dilutive stock options and performance share awards	—	3	205	7
Weighted average common shares outstanding - diluted	188,831	188,797	189,029	188,760
Shares excluded from the calculation of diluted earnings per share	434	—	—	—

- Definition

The entire disclosure for earnings per share.

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