| Computation of Basic and Diluted Earnings Per Common Share |
The computation of basic and diluted earnings per common share is
as follows (in thousands, except share and per share amounts):
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Three months ended
September 30, |
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Nine months ended
September 30, |
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2013 |
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2012 |
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2013 |
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2012 |
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Net income (loss)—basic and diluted
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$ |
15,044 |
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$ |
2,446 |
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$ |
(11,120 |
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$ |
3,988 |
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Accretion of Class L preference
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— |
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20,299 |
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— |
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58,401 |
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Accretion of Class L preference for vested options
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— |
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668 |
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— |
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4,660 |
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Net income (loss) available to common shareholders
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$ |
15,044 |
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$ |
(18,521 |
) |
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$ |
(11,120 |
) |
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$ |
(59,073 |
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Allocation of net income (loss) to common
stockholders—basic and diluted:
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Class L
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$ |
— |
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$ |
20,299 |
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$ |
— |
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$ |
58,401 |
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Common stock
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$ |
15,044 |
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$ |
(18,521 |
) |
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$ |
(11,120 |
) |
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$ |
(59,073 |
) |
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Weighted average number of common shares:
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Class L—basic and diluted
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— |
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1,327,115 |
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— |
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1,325,903 |
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Common stock:
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Basic
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64,916,558 |
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6,062,664 |
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61,815,607 |
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6,057,128 |
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Diluted
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66,831,413 |
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6,062,664 |
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61,815,607 |
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6,057,128 |
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Earnings (loss) per common share:
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Class L—basic and diluted
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$ |
— |
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$ |
15.30 |
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$ |
— |
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$ |
44.05 |
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Common stock:
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Basic
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$ |
0.23 |
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$ |
(3.05 |
) |
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$ |
(0.18 |
) |
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$ |
(9.75 |
) |
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Diluted
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$ |
0.23 |
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$ |
(3.05 |
) |
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$ |
(0.18 |
) |
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$ |
(9.75 |
) |
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