(6) INCOME (LOSS) PER COMMON SHARE

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common stockholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following tables set forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands except per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012

Net income (loss), as reported	$	19,178		$	(53,836	)	$	87,551		$	(39,960	)
Participating basic earnings (a)		(341	)		(119	)		(1,479	)		(348	)
Basic net income (loss) attributed to common shareholders		18,837			(53,955	)		86,072			(40,308	)
Reallocation of participating earnings (a)		1			—			6			—
Diluted net income (loss) attributed to common shareholders	$	18,838		$	(53,955	)	$	86,078		$	(40,308	)
Net income (loss) per common share:
Basic	$	0.12		$	(0.34	)	$	0.54		$	(0.25	)
Diluted	$	0.12		$	(0.34	)	$	0.53		$	(0.25	)

(a) Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012

Denominator:
Weighted average common shares outstanding – basic		160,500		159,563		160,398		159,297
Effect of dilutive securities:
Director and employee stock options and SARs		874		—		923		—
Weighted average common shares outstanding – diluted		161,374		159,563		161,321		159,297

Weighted average common shares – basic for the three months ended September 30, 2013 excludes 2.9 million shares and the three months ended September 30, 2012 excludes 3.0 million shares of restricted stock held in our deferred compensation plans (although all awards are issued and outstanding upon grant). Weighted average common shares – basic for the nine months ended September 30, 2013 excludes 2.8 million shares of restricted stock compared to 2.9 million in the same period of 2012. Stock appreciation rights (“SARs”) of 796 for the three months ended September 30, 2013 and 181,000 for the nine months ended September 30, 2013 were outstanding but not included in the computations of diluted income from operations per share because the grant prices of the SARs were greater than the average market price of the common shares. Due to our loss from continuing operations for the three months and the nine months ended September 30, 2012, we excluded all outstanding SARs and restricted stock from the computation of diluted net income (loss) per share because the effect would have been anti-dilutive to the computations.