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Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic and diluted earnings (loss) per common share ("EPS") are calculated as follows:
  
Quarter Ended March 31,
(In thousands, except per share amounts)
2014
 
2013
Net income (loss)
$
(24,603
)
 
$
2,377

 
 
 
 
Weighted average common shares outstanding (used to calculate basic EPS)
46,850

 
46,372

Dilutive effect of stock options and other stock awards
—

 
620

Weighted average common shares outstanding (used to calculate diluted EPS)
46,850

 
46,992

 
 
 
 
Earnings (loss) per common share – basic
$
(0.53
)
 
$
0.05

Earnings (loss) per common share – diluted
$
(0.53
)
 
$
0.05


If we had generated net income for the quarter ended March 31, 2014, an additional 1.1 million shares would have been added to basic weighted average common shares outstanding to calculate diluted EPS.
The assumed conversions to common stock of stock options, other stock awards and 4.25% Convertible Senior Notes due 2016 ("Convertible Notes") are excluded from weighted average common shares outstanding used to calculate diluted EPS in periods when these items, on an individual basis, have an anti-dilutive effect on diluted EPS. For the quarters ended March 31, 2014 and 2013, the effect of the conversion of the Convertible Notes would have been anti-dilutive because the average trading price of the common stock was below the initial conversion price of $22.45 per share. In addition, certain stock options and other stock awards totaling 0.1 million and 1.9 million for the quarters ended March 31, 2014 and 2013, respectively, were outstanding but not included in the computation of diluted EPS because they were anti-dilutive.