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Per Share Information
6 Months Ended
Jun. 30, 2011
Per Share Information  
Per Share Information
Per Share Information
Basic net income (loss) attributable to CCIC common stockholders, after deduction of dividends on preferred stock, per common share excludes dilution and is computed by dividing net income (loss) attributable to CCIC stockholders after deduction of dividends on preferred stock by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) attributable to CCIC common stockholders, after deduction of dividends on preferred stock, per common share is computed by dividing net income (loss) attributable to CCIC stockholders after deduction of dividends on preferred stock by the weighted-average number of common shares outstanding during the period plus any potential dilutive common share equivalents, including shares issuable (1) upon exercise of stock options and the vesting of restricted stock awards as determined under the treasury stock method and (2) upon conversion of the Company's preferred stock, as determined under the if-converted method. The Company's restricted stock awards are considered participating securities and may be included in the computation pursuant to the two-class method. However, the Company does not present the two-class method when there is no difference between the per share amount under the two-class method and the treasury stock method.
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2011
 
2010
 
2011
 
2010
Net income (loss) attributable to CCIC stockholders
$
30,871


 
$
(97,529
)
 
$
70,888


 
$
(216,804
)
Dividends on preferred stock
(5,202
)
 
(5,202
)
 
(10,403
)
 
(10,403
)
Net income (loss) attributable to CCIC common stockholders after deduction of dividends on preferred stock for basic and diluted computations
$
25,669


 
$
(102,731
)
 
$
60,485


 
$
(227,207
)
Weighted-average number of common shares outstanding (in thousands):
 
 
 
 
 
 
 
Basic weighted-average number of common stock outstanding
285,280


 
286,080


 
286,139


 
287,266


Effect of assumed dilution from potential common shares relating to stock options and restricted stock awards
1,746


 


 
2,076


 


Diluted weighted-average number of common shares outstanding
287,026


 
286,080


 
288,215


 
287,266


Net income (loss) attributable to CCIC common stockholders after deduction of dividends on preferred stock, per common share:
 
 
 
 
 
 
 
Basic
$
0.09


 
$
(0.36
)
 
$
0.21


 
$
(0.79
)
Diluted
$
0.09


 
$
(0.36
)
 
$
0.21


 
$
(0.79
)


 For both the three and six months ended June 30, 2011, 0.9 million restricted stock awards were excluded from the dilutive common shares because certain stock price hurdles would not have been achieved assuming that June 30, 2011 was the end of the contingency period. For the three and six months ended June 30, 2010, all of the CCIC stock options and unvested restricted stock awards are excluded from dilutive common shares because the net impact is anti-dilutive. In addition, 8.6 million shares reserved for issuance upon conversion of the 6.25% convertible preferred stock are excluded from dilutive common shares for the three and six months ended June 30, 2011 and 2010 because the impact is anti-dilutive as determined under the if-converted method. See note 9.