EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 3        EARNINGS PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) attributable 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,
	2014			2013
	(In thousands, except per share amounts)
Basic EPS:
Numerator:
Net loss	$	(86,331	)	$	(23,170	)
Net loss attributable to noncontrolling interests	15			46
Net loss attributable to common stockholders	$	(86,316	)	$	(23,124	)
Denominator:
Weighted average basic common shares outstanding	39,454			39,441
Diluted EPS:
Numerator:
Net loss attributable to common stockholders	$	(86,316	)	$	(23,124	)
Less: Warrant liability gain	—			—
Adjusted net income (loss) attributable to common stockholders	$	(86,316	)	$	(23,124	)
Denominator:
Weighted average basic common shares outstanding	39,454			39,441
Restricted stock and stock options	—			—
Warrants	—			—
Weighted average diluted common shares outstanding	39,454			39,441
Basic earnings (loss) per share:	$	(2.19	)	$	(0.59	)
Diluted earnings (loss) per share:	$	(2.19	)	$	(0.59	)

The diluted EPS computation for the three months ended March 31, 2014 excludes 1,024,940 stock options, 176,536 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.

The diluted EPS computations 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 Sponsor Warrants and 2,862,687 shares of common stock underlying the Management Warrants because their inclusion would have been anti-dilutive.