EX-11 2 dex11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Statement re: Computation of Per Share Earnings

Exhibit 11

EXHIBIT 11 – COMPUTATION OF EARNINGS (LOSS) PER SHARE

 

(In thousands, except per share data)    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
     2010     2009     2010     2009  

Basic and diluted numerator:

        

Loss attributable to the Company – Common Shares

   $ (9,127   $ (689,098   $ (56,909   $ (776,978

Less: Participating securities dividends

     243        —          1,393        —     
                                

Net loss attributable to the Company

   $ (9,370   $ (689,098   $ (58,302   $ (776,978

Denominator:

        

Weighted average common shares – basic

     355,542        355,370        355,502        355,351   

Effect of dilutive securities:

        

Stock options and restricted stock (1)

     —          —          —       
                                

Weighted average common shares – diluted

     355,542        355,370        355,502        355,351   

Net loss attributable to the Company per common share:

        

Basic

   $ (0.03   $ (1.94   $ (0.16   $ (2.19

Diluted

   $ (0.03   $ (1.94   $ (0.16   $ (2.19

 

(1) Equity awards of 5.6 million and 7.0 million were outstanding as of June 30, 2010 and 2009, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive as the respective options’ strike price was greater than the current market price of the shares.