Earnings Per Share

3 Months Ended

Mar. 31, 2012

15. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

		Three Months Ended
		March 31,
		2012		2011
Numerator for basic and diluted earnings
	per share - net income (loss) attributable
	to common stockholders	$	39,307	$	23,372

Denominator for basic earnings per
	share - weighted average shares		199,661		154,945
Effect of dilutive securities:
	Employee stock options		223		190
	Non-vested restricted shares		280		215
	Convertible senior unsecured notes		1,494		135
Dilutive potential common shares			1,997		540
Denominator for diluted earnings per
	share - adjusted weighted average shares		201,658		155,485

Basic earnings per share		$	0.20	$	0.15
Diluted earnings per share		$	0.19	$	0.15

The diluted earnings per share calculations exclude the dilutive effect of 388,000 and 0 stock options for the three months ended March 31, 2012 and 2011, respectively, because the exercise prices were more than the average market price. The Series H Cumulative Convertible and Redeemable Preferred Stock and Series I Cumulative Convertible Perpetual Preferred Stock were not included in the calculations as the effect of conversions into common stock was anti-dilutive.