EX-11 2 Exhibit11.htm STATEMENT RE: COMPUTATION OF LOSS PER SHARE  

 

EXHIBIT 11 COMPUTATION OF LOSS PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

 

2015

 

2014

 

2015

 

2014

NUMERATOR:

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to the

    Company – common shares

$

 (54,466) 

 

$

 (186,631) 

 

$

 (439,432) 

 

$

 (610,820) 

 

Less: Participating securities dividends

 

 -  

 

 

 -  

 

 

 -  

 

 

 -  

Net loss attributable to the Company per

    common share – basic and diluted

$

 (54,466) 

 

$

 (186,631) 

 

$

 (439,432) 

 

$

 (610,820) 

 

 

 

 

 

 

 

 

 

 

 

 

 

DENOMINATOR:

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

    - basic

 

 84,238  

 

 

 83,916  

 

 

 84,178  

 

 

 83,858  

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock (1)

 

 -  

 

 

 -  

 

 

 -  

 

 

 -  

Weighted average common shares outstanding

    - diluted

 

 84,238  

 

 

 83,916  

 

 

 84,178  

 

 

 83,858  

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to the Company per

   common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

 (0.65) 

 

$

 (2.22) 

 

$

 (5.22) 

 

$

 (7.28) 

 

Diluted

$

 (0.65) 

 

$

 (2.22) 

 

$

 (5.22) 

 

$

 (7.28) 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)    Outstanding equity awards of 4.1 million and 6.0 million for the three months ended June 30, 2015 and 2014, respectively, and 4.1 million and 6.0 million for the six months ended June 30, 2015 and 2014, respectively, were not included in the computation of diluted earnings per share because to do so would have been antidilutive.