XML 54 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings per share
 3 Months Ended
Mar. 31, 2014
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 months ended March 31, 2014 and 2013:
 
For the three months ended March 31,
 
2014
 
2013
 
Loss
Shares (000)
Per-Share
 
Income
Shares (000)
Per-Share
Net income (loss)
$
(20,104
)
 
 
 
$
8,253

 
 
Amount allocated to common shareholders (1)
100
%
 
 
 
91.69
%
 
 
Basic EPS:
 
 
 
 
 
 
 
Income (loss) allocable to common shareholders
(20,104
)
88,717

$
(0.23
)
 
7,567

88,555

$
0.09

Effect of Dilutive Securities:
 
 
 
 
 
 
 
Share-based compensation plans
—

—

 
 
—

465

 
Diluted EPS:
 
 
 
 
 
 
 
Income (loss) applicable to common shareholders with assumed conversion
$
(20,104
)
88,717

$
(0.23
)
 
$
7,567

89,020

$
0.09


(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.
Antidilutive securities excluded from the calculation of diluted EPS:
Three months ended March 31,
 
2014
2013
 
 
 
Stock options (1)
603,032

347,934

Service-based share awards (1)
442,456

—

(1)
In periods when we report a net loss, all share awards are excluded from the calculation of diluted weighted average shares outstanding because of their antidilutive effect on earnings (loss) per share.