EX-11 7 Exhibit11.htm STATEMENT RE: COMPUTATION OF INCOME (LOSS) PER SHARE  

EXHIBIT 11 – COMPUTATION OF INCOME (LOSS) PER SHARE

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

 

Years Ended, December 31,

 

 

 

 

2012 

 

 

2011 

 

 

2010 

NUMERATOR:

 

 

 

 

 

 

 

 

 

Net loss attributable to the Company – common shares

 

$

 (424,479) 

 

$

 (302,094) 

 

$

 (479,089) 

 

Less: Participating securities dividends

 

 

 8,456 

 

 

 2,972 

 

 

 5,916 

 

Less: Loss attributable to the Company – unvested shares

 

 

 - 

 

 

 - 

 

 

 - 

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

 

$

 (432,935) 

 

$

 (305,066) 

 

$

 (485,005) 

 

 

 

 

 

 

 

 

 

 

 

DENOMINATOR:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

 

 82,745 

 

 

 82,487 

 

 

 81,653 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock (1)

 

 

 - 

 

 

 - 

 

 

 - 

Weighted average common shares outstanding – diluted

 

 

 82,745 

 

 

 82,487 

 

 

 81,653 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to the Company per common share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 (5.23) 

 

$

 (3.70) 

 

$

 (5.94) 

 

Diluted

 

$

 (5.23) 

 

$

 (3.70) 

 

$

 (5.94) 

 

 

(1)     5.4 million, 5.5 million and 7.2 million stock options and restricted shares were outstanding at December 31, 2012, 2011, and 2010, respectively, that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive.