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UNAUDITED SUPPLEMENTARY QUARTERLY INFORMATION
 12 Months Ended
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