XML 14 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings (Loss) per Common Share
 3 Months Ended
Mar. 31, 2012
Earnings (Loss) per Common Share [Abstract]  
Earnings Per Share [Text Block]
Earnings per Common Share
Basic (loss) earnings per common share is calculated using the weighted average number of shares outstanding for the period. Diluted (loss) earnings per common share is computed on the basis of the weighted average basic shares outstanding plus the dilutive effect of our stock-based compensation plans using the “treasury stock” method. Unvested restricted stock and treasury shares are excluded from the calculation of weighted average number of common shares outstanding because they do not participate in dividends. Once restricted stock vests, it is included in our common shares outstanding.
Potential common shares are excluded from the computation of diluted (loss) earnings per common share when the effect would be anti-dilutive. All potential common shares are anti-dilutive in periods of net loss available to common shareholders. Stock options are anti-dilutive when the exercise price of these instruments is greater than the average market price of the Company's common stock for the period.
The following table sets forth the computation of the weighted average basic and diluted (loss) earnings per share:
 
 
Three Months Ended
 
 
March 31,
(In millions, except for per share amounts)
 
2012
 
2011
Numerator:
 
 
 
 
Net loss
 
$
(12.2
)
 
$
(7.2
)
Denominator:
 
 
 
 
Weighted average number of common shares outstanding during the period
 
37.5

 
38.0

Dilutive effect of stock-based compensation plans
 
—

 
—

Weighted average number of diluted shares outstanding during the period
 
37.5

 
38.0

 
 
 
 
 
(Loss) earnings per common share — basic
 
(0.33
)
 
(0.19
)
(Loss) earnings per common share — diluted
 
(0.33
)
 
(0.19
)
Anti-dilutive options excluded from calculation
 
5.9

 
4.1