Net (Loss) Income Per Common Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Net (Loss) Income Per Common Share

Note 18—Net (Loss) Income Per Common Share

The reconciliation of the numerator and the denominator of the earnings per common share is as follows:

	Years ended December 31,
(Dollar amounts in thousands, except per share data)	2013			2012		2011
Net (loss) income	$	(24,621	)	$	77,366	$	24,214
Weighted average common shares outstanding		78,914,310			72,687,622		72,543,500
Weighted average potential dilutive common shares (1)(2)		—			3,948,795		710,298
Weighted average common shares outstanding—assuming dilution		78,914,310			76,636,417		73,253,798
Net (loss) income per common share—basic	$	(0.31	)	$	1.06	$	0.33
Net (loss) income per common share—diluted	$	(0.31	)	$	1.01	$	0.33

⁽¹⁾  Potential common shares consist of common stock issuable under the assumed exercise of stock options and restricted stock awards using the treasury stock method.

⁽²⁾  For the year ended December 31, 2013, 2,325,209 potential common shares consisting of common stock under the assumed exercise of stock options and restricted stock awards using the treasury stock method were not included in the computation of the diluted net (loss) income per share since their inclusion would have an antidilutive effect.

As discussed above, on August 7, 2013, the Company’s Board of Directors approved a regular quarterly cash dividend of $0.10 per common share. The first quarterly dividend was paid on September 6, 2013 to stockholders of record at the close of business on August 19, 2013. Cash payments related to this dividend were approximately $8.2 million.

On November 6, 2013, the Company’s Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock. The cash dividend was paid on December 6, 2013 to stockholders of record as of the close of business on November 18, 2013.