Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

3. EARNINGS (LOSS) PER SHARE

Earnings (loss) per share is computed as follows:

	Three Months Ended June 30,														Six Months Ended June 30,
	2014						2013								2014								2013
	Net Income		Shares		Per Share Amount		Net Loss			Shares		Per Share Amount			Net Loss			Shares		Per Share Amount			Net Loss			Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings (loss) per share	$	37,336		86,877	$	0.43	$	(15,854	)		88,222	$	(0.18	)	$	(12,095	)		87,642	$	(0.14	)	$	(56,214	)		85,510	$	(0.66	)
Effect of dilutive incentive-based awards				312							—								—								—
Diluted earnings (loss) per share	$	37,336		87,189	$	0.43	$	(15,854	)		88,222	$	(0.18	)	$	(12,095	)		87,642	$	(0.14	)	$	(56,214	)		85,510	$	(0.66	)

In accordance with the Earnings Per Share Topic of the ASC, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period (excluding unvested restricted stock). The weighted average number of repurchased shares during the period that are held as treasury stock are excluded from common stock outstanding. Diluted earnings (loss) per share is determined based on the dilutive effect of unvested restricted stock probable of vesting using the treasury stock method. The Company excluded potentially dilutive shares of 622 (in thousands) for the three months ended June 30, 2013, and potentially dilutive shares of 324 (in thousands) and 699 (in thousands) for the six months ended June 30, 2014 and 2013, respectively, from the calculation of diluted loss per share as their effect would have been anti-dilutive due to the Company’s net loss in those periods.