EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 15—EARNINGS PER SHARE

        The following table presents a summary of the calculation of basic and diluted net earnings (loss) per share for the years indicated:

	Year Ended December 31,
	2011			2010			2009
	(In thousands, except per share data)
Basic Earnings (Loss) Per Share:
Net earnings (loss)	$	50,704		$	(62,016	)	$	(9,350	)
Less: earnings allocated to unvested restricted stock(1)		(2,072	)		(31	)		(245	)
Net earnings (loss) allocated to common shares	$	48,632		$	(62,047	)	$	(9,595	)
Weighted-average basic shares and unvested restricted stock outstanding		37,141.5			36,438.7			33,114.9
Less: weighted-average unvested restricted stock outstanding		(1,650.7	)		(1,330.6	)		(1,216.2	)
Weighted-average basic shares outstanding		35,490.8			35,108.1			31,898.7
Basic earnings (loss) per share	$	1.37		$	(1.77	)	$	(0.30	)
Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common shares	$	48,632		$	(62,047	)	$	(9,595	)
Weighted-average basic shares outstanding		35,490.8			35,108.1			31,898.7
Diluted earnings (loss) per share	$	1.37		$	(1.77	)	$	(0.30	)

⁽¹⁾

Represents cash dividends paid to holders of unvested restricted stock, net of estimated forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.