EX-11 3 Exhibit11.htm STATEMENT RE: COMPUTATION OF INCOME (LOSS) PER SHARE  

 

EXHIBIT 11 – COMPUTATION OF INCOME (LOSS) PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

Three Months Ended

 June 30,

Six Months Ended

June 30,

 

 

2013

 

2012

2013

 

2012

NUMERATOR:

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company – common shares

$

 7,202  

 

$

 (39,025) 

$

 (195,801) 

 

$

 (182,654) 

 

Less: Participating securities dividends

 

 -  

 

 

 383  

 

 2,566  

 

 

 7,858  

Net income (loss) attributable to the Company per common share – basic and diluted

$

 7,202  

 

$

 (39,408) 

$

 (198,367) 

 

$

 (190,512) 

 

 

 

 

 

 

 

 

 

 

 

 

DENOMINATOR:

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

 83,207  

 

 

 82,543  

 

 83,167  

 

 

 82,598  

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock (1)

 

 613  

 

 

 -  

 

 -  

 

 

 -  

Weighted average common shares outstanding – diluted

 

 83,820  

 

 

 82,543  

 

 83,167  

 

 

 82,598  

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company per common share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

 0.09  

 

$

 (0.48) 

$

 (2.39) 

 

$

 (2.31) 

 

Diluted

$

 0.09  

 

$

 (0.48) 

$

 (2.39) 

 

$

 (2.31) 

 

 

 

 

 

 

 

 

 

 

 

 

(1)     Outstanding equity awards of 4.6 million and 5.3 million for the three months ended June 30, 2013 and 2012, respectively, and 6.1 million and 5.3 million for the six months ended June 30, 2013 and 2012, respectively, were not included in the computation of diluted earnings per share as they were antidilutive or contingently issuable awards for which performance and market conditions have not been satisfied.