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UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION | 12 Months Ended
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Dec. 31, 2013
UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION |
UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION | NOTE 15 UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION Adjustment for MSC Purchase Price Allocation In the fourth quarter of 2012, the Company finalized the purchase price allocation for the acquisition of MSC, and the estimated fair value of the investment in MSC was increased from the initial estimate of $225.0 million to $262.9 million. The adjustment affected the composition of the fair value allocation of the investment in MSC's assets, resulting in a reduction in the amortization reported for the first two quarters of 2012 and an increase for the third quarter of 2012. This adjustment is reflected in the 2012 quarterly information below. Adjustment for Rights Issue In December 2012, the Company completed a rights offering. As the rights offering contained a bonus element and the issue was offered to all existing shareholders, basic and diluted earnings were adjusted retroactively for the bonus element for all periods presented as at the time of the offering. The Company determined the bonus element to be an additional 10.6 million shares, which was added to the denominator used in computing basic and diluted earnings per share for the first three quarters of 2012 and for all four quarters of 2011. This adjustment is reflected in the 2012 and 2011 quarterly information below. The following table summarizes unaudited supplementary quarterly information for the years ended December 31, 2013, 2012, and 2011.
|  | Three Months Ended |
--- | --- | --- | ---
|  | March 31, 2013 |  | June 30, 2013 |  | September 30, 2013 |  | December 31, 2013 |
|  | (in thousands, except per share) |
Net (loss) income |  | $ | (10,982 | ) | $ | (128,681 | ) | $ | 3,264 |  | $ | (11,343 | )
Net (loss) income per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.04 | ) | $ | (0.43 | ) | $ | 0.01 |  | $ | (0.04 | )
Diluted |  | $ | (0.04 | ) | $ | (0.43 | ) | $ | 0.01 |  | $ | (0.04 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 296,778 |  |  | 297,097 |  |  | 297,125 |  |  | 297,159 |
Diluted |  |  | 296,778 |  |  | 297,097 |  |  | 297,899 |  |  | 297,159 |
|  | Three Months Ended |
--- | --- | --- | ---
|  | March 31, 2012 |  | June 30, 2012 |  | September 30, 2012 |  | December 31, 2012 |
|  | (As Adjusted) |  | (As Adjusted) |  | (As Adjusted) |  |  |
|  | (in thousands, except per share) |
Net loss, as reported |  | $ | (19,202 | ) | $ | (21,251 | ) | $ | (2,583 | ) | $ | (26,285 | )
Adjustment for MSC Purchase Price Allocation |  |  | 1,851 |  |  | 887 |  |  | (71 | ) |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss, as adjusted |  | $ | (17,351 | ) | $ | (20,364 | ) | $ | (2,654 | ) | $ | (26,285 | )
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted, as reported |  | $ | (0.08 | ) | $ | (0.08 | ) | $ | (0.01 | ) | $ | (0.10 | )
Adjustment for MSC Purchase Price Allocation |  |  | 0.01 |  |  | 0.01 |  |  | — |  |  | — |
Adjustment for Rights Issue |  |  | — |  |  | — |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted, adjusted |  | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.01 | ) | $ | (0.10 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted, as reported |  |  | 233,994 |  |  | 268,009 |  |  | 268,373 |  |  | 274,295 |
Adjustment for Rights Issue |  |  | 10,646 |  |  | 10,646 |  |  | 10,646 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted, adjusted |  |  | 244,640 |  |  | 278,655 |  |  | 279,019 |  |  | 274,295 |
|  | Three Months Ended |
--- | --- | --- | ---
|  | March 31, 2011 |  | June 30, 2011 |  | September 30, 2011 |  | December 31, 2011 |
|  | (As Adjusted) |  | (As Adjusted) |  | (As Adjusted) |  | (As Adjusted) |
|  | (in thousands, except per share) |
Net loss |  | $ | (8,734 | ) | $ | (13,154 | ) | $ | (23,680 | ) | $ | (16,304 | )
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted, as reported |  | $ | (0.07 | ) | $ | (0.09 | ) | $ | (0.17 | ) | $ | (0.12 | )
Adjustment for Rights Issue |  |  | 0.01 |  |  | 0.01 |  |  | 0.01 |  |  | 0.01 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted, adjusted |  | $ | (0.06 | ) | $ | (0.08 | ) | $ | (0.16 | ) | $ | (0.11 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted, as reported |  |  | 128,914 |  |  | 139,646 |  |  | 139,725 |  |  | 139,753 |
Adjustment for Rights Issue |  |  | 10,646 |  |  | 10,646 |  |  | 10,646 |  |  | 10,646 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted, adjusted |  |  | 139,560 |  |  | 150,292 |  |  | 150,371 |  |  | 150,399 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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