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EARNINGS PER SHARE
3 Months Ended
Mar. 31, 2013
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 3                         EARNINGS PER SHARE

 

Basic loss per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding. Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of all potentially dilutive common shares. The dilutive effect of options and nonvested stock issued under stock-based compensation plans is computed using the “treasury stock” method. The dilutive effect of the Sponsors Warrants and Management Warrants is computed using the if-converted method. Gains associated with the Sponsors Warrants and Management Warrants are excluded from the numerator in computing diluted earnings per share because inclusion of such gains in the computation would be anti-dilutive.

 

Information related to our EPS calculations is summarized as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2013

 

2012

 

 

 

(In thousands, except per share amounts)

 

Basic and Diluted EPS:

 

 

 

 

 

Numerator:

 

 

 

 

 

Net loss

 

$

(23,170

)

$

(111,522

)

Net income (loss) attributable to noncontrolling interests

 

46

 

(736

)

Net loss attributable to common stockholders

 

$

(23,124

)

$

(112,258

)

 

 

 

 

 

 

Denominator:

 

 

 

 

 

Weighted average basic common shares outstanding

 

39,441

 

37,903

 

 

 

 

 

 

 

Basic and diluted EPS:

 

$

(0.59

)

$

(2.96

)

 

The diluted EPS computation for the three months ended March 31, 2013 excludes 890,040 stock options, 57,933 shares of restricted stock, 1,916,667 shares of common stock underlying the Sponsors Warrants and 2,862,687 shares of common stock underlying the Management Warrants because their inclusion would have been anti-dilutive.

 

Additionally, the diluted EPS computation for the three months ended March 31, 2012 excludes 731,437 stock options and 42,553 shares of restricted stock and 10,682,687 Sponsors and Management Warrants because their inclusion would have been anti-dilutive.