Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

The following table presents the basic and diluted earnings (loss) per share computations for the three and six months endedJune 30, 2014 and 2013: 

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2014		2013		2014			2013
Basic net income (loss) per common share:
Net income (loss)	$	2,293	$	85,598	$	(2,313	)	$	243,718
Weighted average common shares outstanding	270,492		214,788		265,631			214,786
Net income (loss) per basic common share	$	0.01	$	0.40	$	(0.01	)	$	1.13
Diluted net income (loss) per common share:
Net income (loss)	$	2,293	$	85,598	$	(2,313	)	$	243,718
Weighted average common shares outstanding	270,492		214,788		265,631			214,786
Dilutive effect of:
Stock options	—		437		—			—
Restricted shares	734		798		—			561
Weighted average common shares and common share equivalents outstanding	271,226		216,023		265,631			215,347
Net income (loss) per diluted common share	$	0.01	$	0.40	$	(0.01	)	$	1.13

Diluted earnings per share for the three and six months endedJune 30, 2014 and 2013 is computed in the same manner as basic earnings per share after assuming the issuance of common stock for all potentially dilutive common stock equivalents, which include both stock options and restricted stock awards, whether exercisable or not. The computation of diluted earnings per share excluded 12,855,434 and 12,133,160 antidilutive share equivalents for the three months endedJune 30, 2014 and 2013, respectively, and 13,853,885 and 15,837,472 antidilutive share equivalents for the six months endedJune 30, 2014 and 2013, respectively. The antidilutive share equivalents primarily consisted of out-of-the-money stock options for the three months ended June 30, 2014 and 2013 and the six months ended June 30, 2013.