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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share
The following table sets forth the computation of earnings (loss) per common share and earnings (loss) per common share - assuming dilution:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
 
(Dollars in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net income (loss) - numerator for earnings (loss) per common share
$
56,181

 
$
(7,829
)
 
$
202,325

 
$
21,401

Interest on convertible subordinated debentures (net of income tax benefit)
—

 
2

 
—

 
517

Numerator for earnings (loss) per common share - assuming dilution
$
56,181

 
$
(7,827
)
 
$
202,325

 
$
21,918

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding (1)
65,129,442

 
62,504,421

 
64,239,117

 
60,722,625

Effect of dilutive securities:
 
 
 
 
 
 
 
Convertible subordinated debentures
—

 
65,688

 
—

 
1,801,211

Convertible senior notes
6,601,347

 
2,145,940

 
6,601,347

 
2,145,940

2015 warrants
1,388,826

 
—

 
462,942

 
—

Stock options and deferred compensation agreements
1,440,101

 
545,877

 
1,155,670

 
562,309

Denominator for earnings (loss) per common share - assuming dilution
74,559,716

 
65,261,926

 
72,459,076

 
65,232,085

 
 
 
 
 
 
 
 
Earnings (loss) per common share
$
0.86

 
$
(0.13
)
 
$
3.15

 
$
0.35

Earnings (loss) per common share - assuming dilution
$
0.75

 
$
(0.13
)
 
$
2.79

 
$
0.34


_____________________________
(1)
Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.
Options to purchase shares of our common stock that were outstanding during the respective periods indicated but were not included in the computation of diluted earnings (loss) per share because the options' exercise price was greater than the average market price of the common shares are as follows:
Period
 
Number of
Shares
 
Range of
Exercise Prices
 
 
 
 
Minimum
 
Maximum
Three months ended September 30, 2013
 
—
 
$—
 
$—
Nine months ended September 30, 2013
 
—
 
$—
 
$—
Three months ended September 30, 2012
 
1,498,100
 
$11.88
 
$14.34
Nine months ended September 30, 2012
 
1,502,100
 
$11.35
 
$14.34