Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share

Earnings Per Share

Note 3. Earnings Per Share

A reconciliation between basic and diluted earnings per share is as follows (in thousands, except per share data):

	Quarter Ended						Six Months Ended
			June 30,							June 30,
	2012			2011			2012				2011
Net (loss) income for basic and diluted earnings per share	$ (3,653)			$ 93,491			$ 43,311				$	171,901
Weighted-average common shares outstanding	217,866			217,028			217,725				216,771
Dilutive effect of stock options and restricted stock awards			-	2,342			1,492				2,745
Diluted weighted-average shares outstanding			217,866			219,370		219,217					219,516
Basic (loss) earnings per share	$	(0.02)		$	0.43		$		0.20		$			0.79
Diluted (loss) earnings per share	$	(0.02)		$	0.43		$		0.20		$			0.78

Diluted earnings per share for the quarter and six months ended June 30, 2012 did not reflect options to purchase common stock and performance shares of an aggregate of 5.1 million and 3.1 million, respectively, because the effect of including them would have been antidilutive.  Diluted earnings per share for the quarter and six months ended June 30, 2011 did not reflect options to purchase common stock of 2.8 million and 1.8 million, respectively, because the effect of including them would have been antidilutive.