EX-11 6 dex11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Statement re: Computation of Per Share Earnings

EXHIBIT 11 – Computation of Per Share Earnings (Loss)

 

(In thousands, except per share data)    Pre-Merger  
     Period from
January 1
through July 30,
2008
 

NUMERATOR:

  

Net income attributable to the Company – common shares

   $ 1,036,525     

Less: Participating securities dividends

     —     

Less: Income from discontinued operations, net

     640,236     
        

Income from continuing operations attributable to the Company

     396,289     

Less: Income from continuing operations attributable to the Company – unvested shares

     2,333     
        

Income from continuing operations attributable to the Company per common share – basic and diluted

   $ 393,956     
        

DENOMINATOR:

  

Weighted average common shares - basic

     495,044     

Effect of dilutive securities:

  

Stock options and common stock warrants (1)

     1,475     
        

Denominator for net income per common share – diluted

     496,519     

Net income per common share:

  

Basic:

  

Income attributable to the Company before discontinued operations

   $ 0.80     

Discontinued operations

     1.29     
        

Net income attributable to the Company

   $ 2.09     
        

Diluted:

  

Income attributable to the Company before discontinued operations

   $ 0.80     

Discontinued operations

     1.29     
        

Net income attributable to the Company

   $ 2.09     
        

 

  (1) 7.6 million stock options were outstanding at July 30, 2008 that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive as the respective options’ strike price was greater than the current market price of the shares.