Earning Per Common Share (Tables)

9 Months Ended

Sep. 30, 2015

The calculation of (loss) earnings per common share for the quarters and nine-month periods ended September 30, 2015 and 2014 is as follows:

	Quarter Ended September 30,				Nine-Month Period Ended September 30,
	2015		2014		2015		2014
	(In thousands, except per share data)
Net income (loss)	$	4,569	$	19,532	$	(1,528)	$	64,588
Less: Dividends on preferred stock
Non-convertible preferred stock (Series A, B, and D)		(1,627)		(1,627)		(4,884)		(4,882)
Convertible preferred stock (Series C)		(1,838)		(1,838)		(5,512)		(5,514)
Income (loss) available to common shareholders	$	1,104	$	16,067	$	(11,924)	$	54,192
Effect of assumed conversion of the convertible ' ' preferred stock		1,838		1,838		5,512		5,514
Income (loss) available to common shareholders assuming conversion	$	2,942	$	17,905	$	(6,412)	$	59,706

Weighted average common shares and share equivalents:
Average common shares outstanding		43,929		45,055		44,353		45,131
Effect of dilutive securities:
Average potential common shares-options		46		160		85		162
Average potential common shares-assuming ' ' conversion of convertible preferred stock		7,171		7,147		7,171		7,147
Total weighted average common shares ' 'outstanding and equivalents		51,146		52,362		51,609		52,440
Earnings (loss) per common share - basic	$	0.03	$	0.36	$	(0.27)	$	1.20
Earnings (loss) per common share - diluted	$	0.03	$	0.34	$	(0.27)	$	1.14