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Earnings per share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings (loss) per share
Earnings (loss) per share
Basic earnings (loss) per share (“EPS”) amounts are calculated by dividing earnings available to common shareholders by the weighted average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive common shares outstanding. The following table shows the basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2013 and September 30, 2012:
 
For the three months ended September 30,
 
2013
 
2012
 
Loss
Shares (000)
Per-Share
 
Loss
Shares (000)
Per-Share
Net loss
$
(9,507
)
 
 
 
$
(12,023
)
 
 
Amount allocated to common shareholders (1)
100
%
 
 
 
100
%
 
 
Basic EPS:
 
 
 
 
 
 
 
Loss allocable to common shareholders
(9,507
)
88,611

$
(0.11
)
 
(12,023
)
88,468

$
(0.14
)
Diluted EPS:
 
 
 
 
 
 
 
Loss applicable to common shareholders with assumed conversion
$
(9,507
)
88,611

$
(0.11
)
 
$
(12,023
)
88,468

$
(0.14
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the nine months ended September 30,
 
2013
 
2012
 
Loss
Shares (000)
Per-Share
 
Loss
Shares (000)
Per-Share
Net loss
$
(30,638
)
 
 
 
$
(28,701
)
 
 
Amount allocated to common shareholders (1)
100
%
 
 
 
100
%
 
 
Basic EPS:
 
 
 
 
 
 
 
Loss allocable to common shareholders
(30,638
)
88,588

$
(0.35
)
 
(28,701
)
88,549

$
(0.32
)
Diluted EPS:
 
 
 
 
 
 
 
Loss applicable to common shareholders with assumed conversion
$
(30,638
)
88,588

$
(0.35
)
 
$
(28,701
)
88,549

$
(0.32
)

(1)
We have not allocated net losses between common and preferred shareholders, as the holders of our preferred shares do not have a contractual obligation to share in the loss.

Impact of our outstanding Series A Convertible Preferred Stock on EPS
Our Series A Convertible Preferred Stock has similar characteristics of a “participating security” as described by the ASC 260-10-45.  The holders of our convertible preferred stock do not have a contractual obligation to share in the losses of Century. Thus, in periods where we report net losses, we will not allocate the net losses to the convertible preferred stock for the computation of basic or diluted EPS.
Antidilutive securities excluded from the calculation of diluted EPS:
Three months ended September 30,
Nine months ended September 30,
 
2013
2012
2013
2012
 
 
 
 
 
Stock options (1)
620,334

626,334

620,334

626,334

Service-based share awards (1)
573,628

406,070

522,032

382,462

(1)
In periods when we report a net loss, all share awards are excluded from the calculation of diluted weighted average stock outstanding because of their antidilutive effect on earnings (loss) per share.
We exclude shares of our common stock repurchased under a stock repurchase program from the calculation of weighted average shares of common stock outstanding as of the date of repurchase. See Note 7 Shareholders’ equity for additional information about this program.
Service-based share awards for which vesting is based upon continued service are not considered issued and outstanding shares of common stock until vested and issued. However, the service-based share awards are considered common stock equivalents and, therefore, the weighted average service-based share awards are included, using the treasury stock method, in common shares outstanding for diluted earnings per share computations if they have a dilutive effect on earnings per share.