Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2012

Earnings (Loss) Per Common Share

3. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share are calculated by dividing net earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjust basic earnings per share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and restricted stock, and shares issuable upon conversion of our 3  ³/₄% senior subordinated convertible notes due 2012 (“Convertible Notes”) prior to their maturity on July 15, 2012 and payment in full on July 16, 2012 assuming the conversion premium was converted into common stock based on the average closing price per share of our stock during the period, each using the treasury stock method. Due to a net loss applicable to common shareholders for the year ended December 31, 2012, we excluded 1,263 potentially dilutive securities from the computation as their effect would be anti-dilutive.

	Year Ended December 31,
	2012			2011		2010
Numerator — basic and diluted
Net income (loss)	$	(36,986	)	$	103,903	$	65,984
Denominator
Weighted average number of common shares outstanding — basic		40,316			41,131		45,557
Effect of dilutive stock options		—			915		915
Effect of dilutive convertible notes		—			836		863
Effect of dilutive restricted shares		—			591		329
Weighted average number of common shares outstanding — diluted		40,316			43,473		47,664
Earnings (loss) per common share — basic	$	(0.92	)	$	2.53	$	1.45
Earnings (loss) per common share — diluted	$	(0.92	)	$	2.39	$	1.38
Antidilutive stock options and restricted shares		4,943			2,119		1,606