Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2012

Calculation Of Basic And Diluted Net Income Loss Per Share

The following table presents the calculation of both basic and diluted net (loss) income per share:


	Three Months Ended
	(In thousands, except per share amounts)
	March 31, 2012			March 31, 2011
Net (loss) income	$	(88,285	)	$	18,294


Weighted average shares outstanding		136,011			123,426
Dilutive effect of employee stock options and warrants		0			28,074


Diluted weighted average shares outstanding		136,011			151,500


Basic (loss) income per share	$	(0.65	)	$	0.15
Diluted (loss) income per share	$	(0.65	)	$	0.12

Liability Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s liability as of March 31, 2012 and December 31, 2011 that is measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

		00000000		00000000		00000000		00000000
	March 31, 2012
*In thousands*	Total		Level 1		Level 2		Level 3

Asset:

Cash equivalents	$	37	$	37	$	—	$	—


Liability:

Warrant derivative liability	$	191,387	$	—	$	—	$	191,387

		00000000		00000000		00000000		00000000
	December 31, 2011
*In thousands*	Total		Level 1		Level 2		Level 3

Asset:

Cash equivalents	$	39	$	39	$	—	$	—


Liability:

Warrant derivative liability	$	123,125	$	—	$	—	$	123,125

Change in Fair Value of Warrant Derivative Liabilities

The change in the fair value of the warrant derivative liability is as follows (in thousands):


	October 2009 Warrants
Balance at December 31, 2010	$	230,069

Gain on change in fair value of derivative liability		(25,342	)
Compensation income for change in fair value of warrants issued to former employees		(679	)
Transfers to equity		(29,229	)


Balance at March 31, 2011	$	174,819


	October 2009 Warrants
Balance at December 31, 2011	$	123,125

Loss on change in fair value of derivative liability		66,209
Compensation expense for change in fair value of warrants issued to former employees		2,374
Transfers to equity		(321	)


Balance at March 31, 2012	$	191,387

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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