EX-11 2 Exhibit11.htm STATEMENT RE: COMPUTATION OF LOSS PER SHARE

EXHIBIT 11 COMPUTATION OF LOSS PER SHARE |
(In thousands, except per share data) | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
NUMERATOR: |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to the Company – common shares | $ | (221,917) |  | $ | (114,852) |  | $ | (661,349) |  | $ | (725,672) |
| Less: Participating securities dividends |  | - |  |  | - |  |  | - |  |  | - |
Net loss attributable to the Company per common share – basic and diluted | $ | (221,917) |  | $ | (114,852) |  | $ | (661,349) |  | $ | (725,672) |
DENOMINATOR: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding - basic |  | 84,350 |  |  | 83,991 |  |  | 84,236 |  |  | 83,903 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
| Stock options and restricted stock (1) |  | - |  |  | - |  |  | - |  |  | - |
Weighted average common shares outstanding - diluted |  | 84,350 |  |  | 83,991 |  |  | 84,236 |  |  | 83,903 |
Net loss attributable to the Company per common share: |  |  |  |  |  |  |  |  |  |  |  |
| Basic | $ | (2.63) |  | $ | (1.37) |  | $ | (7.85) |  | $ | (8.65) |
| Diluted | $ | (2.63) |  | $ | (1.37) |  | $ | (7.85) |  | $ | (8.65) |
(1) Outstanding equity awards of 7.3 million and 7.0 million for the three months ended September 30, 2015 and 2014, respectively, and 7.3 million and 7.0 million for the nine months ended September 30, 2015 and 2014, respectively, were not included in the computation of diluted earnings per share because to do so would have been antidilutive. |