NOTE 12 LOSS PER SHARE

Basic net loss per share is computed by dividing the net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed similarly except that the weighted average number of common shares is increased to reflect all dilutive instruments.

Below is a reconciliation of the basic and diluted weighted average number of common shares and the computations for basic loss per share for the year ended December 31, 2014, 2013 and 2012:

	2014			2013			2012
	(in thousands, except per share amounts)
Net loss	$	(311,943	)	$	(147,742	)	$	(66,654	)
Weighted average number of common shares		297,763			297,001			261,223

Loss per common share	$	(1.05	)	$	(0.50	)	$	(0.26	)

Options to purchase 3.3 million shares of common stock (2013—2.1 million, 2012—1.6 million) at an average exercise price of $3.95 at December 31, 2014 (2013—$5.04, 2012—$6.32) were not included in the computation of diluted weighted average shares because their exercise price exceeded the average price of the Company's common stock for the year ended December 31, 2014, and because their effect would have been anti-dilutive. Other outstanding options to purchase 1.8 million shares of common stock (2013—3.6 million, 2012—2.9 million) were not included in the computation of diluted weighted average shares in the year ended December 31, 2013 because their effect would have been anti-dilutive.