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Earnings Per Share | 12 Months Ended
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Dec. 31, 2014
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings per Share Basic earnings per share are computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share are computed using the weighted average shares outstanding during the period, but also include the dilutive effect of awards of restricted stock, using the treasury stock method, and outstanding convertible preferred stock. Under the treasury stock method, the amount of unrecognized compensation expense related to unvested stock-based compensation grants is assumed to be used to repurchase shares at the average market price. The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share, for the years ended December 31, 2014, 2013 and 2012 (in thousands):
| Income (Loss) |  | Weighted Average Shares |  | Earnings (Loss) Per Share
| (In thousands, except per share amounts)
Year Ended December 31, 2014 |  |  |  |  |
Basic earnings per share | $ | 203,260 |  |  | 479,644 |  |  | $ | 0.42 |
Effect of dilutive securities |  |  |  |  |
Restricted stock | — |  |  | 2,181 |  |  |
Convertible preferred stock(1) | 6,500 |  |  | 17,918 |  |  |
Diluted earnings per share | $ | 209,760 |  |  | 499,743 |  |  | $ | 0.42 |
Year Ended December 31, 2013 |  |  |  |  |
Basic loss per share | $ | (609,414 | ) |  | 481,148 |  |  | $ | (1.27 | )
Effect of dilutive securities |  |  |  |  |
Restricted stock(2) | — |  |  | — |  |  |
Convertible preferred stock(3) | — |  |  | — |  |  |
Diluted loss per share | $ | (609,414 | ) |  | 481,148 |  |  | $ | (1.27 | )
Year Ended December 31, 2012 |  |  |  |  |
Basic earnings per share | $ | 86,046 |  |  | 453,595 |  |  | $ | 0.19 |
Effect of dilutive securities |  |  |  |  |
Restricted stock | — |  |  | 2,420 |  |  |
Convertible preferred stock(3) | — |  |  | — |  |  |
Diluted earnings per share | $ | 86,046 |  |  | 456,015 |  |  | $ | 0.19 |
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(1) | Potential common shares related to the Company’s outstanding 8.5% and 7.0% convertible perpetual preferred stock covering 71.7 million shares for the year ended December 31, 2014 were excluded from the computation of earnings per share because their effect would have been antidilutive under the if-converted method.
(2) | Restricted stock awards covering 0.5 million shares were excluded from the computation of loss per share because their effect would have been antidilutive.
(3) | Potential common shares related to the Company’s outstanding 8.5%, 6.0% and 7.0% convertible perpetual preferred stock covering 90.1 million shares for the years ended December 31, 2013 and 2012, were excluded from the computation of earnings (loss) per share because their effect would have been antidilutive under the if-converted method.
See Note 16 for discussion of the Company’s convertible perpetual preferred stock. As discussed in Note 16, the Company’s Board adopted a stockholder rights plan in November 2012 under which holders of common stock were issued Rights. As the contingency for exercising these Rights had not been met as of December 31, 2012, the Company did not include the conversion of any Rights in its computation of diluted earnings per share for the year ended December 31, 2012. The Rights expired and the stockholder rights plan was terminated in 2013.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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