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Earnings per Share
 12 Months Ended
Dec. 31, 2011
Earnings per Share
18. Earnings per Share

 

The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings per share for the periods presented:

 

    Year Ended December 31,  
    2011     2010     2009  
Loss from continuing operations   $ (132,915 )   $ (65,327 )   $ (130,856 )
Income from discontinued operations, net of tax 1     -       33,448       53,488  
Gain on sale of discontinued operations, net of tax     -       51,546       -  
Less net income attributable to noncontrolling interests     -       (28,090 )     (37,275 )
Loss attributable to common shareholders   $ (132,915 )   $ (8,423 )   $ (114,643 )
Less: Portion of subsidiary net income allocated to undistributed share-based compensation awards, net of tax     -       (28 )     (116 )
    $ (132,915 )   $ (8,451 )   $ (114,759 )
Weighted-average shares, basic     45,784       45,553       43,811  
Effect of dilutive securities 2     -       -       -  
Weighted-average shares, diluted     45,784       45,553       43,811  

 

1 For purposes of determining earnings per share, net income attributable to noncontrolling interests is applied against income from discontinued operations as both are completely attributable to PVG's operations.

2 For 2011, 2010 and 2009, an amount less than 0.1 million, approximately 0.2 million and 0.1 million potentially dilutive securities, including the Convertible Notes, stock options, restricted stock and restricted stock units had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per common share.