EX-11 2 dex11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (LOSS). STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (LOSS).

EXHIBIT 11 – COMPUTATION OF EARNINGS (LOSS) PER SHARE

 

(In thousands, except per share data)    Three Months Ended June 30,      Six Months Ended June 30,  
     2011      2010      2011      2010  

NUMERATOR:

            

Income (loss) attributable to the Company – common shares

      $ 26,695           $ (9,127)          $ 17,154         $ (56,909)    

Less: Participating securities dividends

      235           243           1,448           1,393     
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income (loss) attributable to the Company per common share – basic and diluted

      $ 26,460           $ (9,370)          $ 15,706         $ (58,302)    

DENOMINATOR:

            

Weighted average common shares outstanding – basic

      355,883           355,542           355,839           355,502     

Effect of dilutive securities:

            

Stock options and restricted stock (1)

      775           —           785           —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding – diluted

      356,658           355,542           356,624           355,502     

Net income (loss) attributable to the Company per common share:

            

Basic

      $ 0.07           $ (0.03)          $ 0.04         $ (0.16)    

Diluted

      $ 0.07           $ (0.03)          $ 0.04         $ (0.16)    

 

(1) Equity awards of 6.3 million and 5.6 million were outstanding as of June 30, 2011 and 2010, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.