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Earnings Per Share (Notes)
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings Per Share


The Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2011 and 2010:
 
Three months ended June 30,
 
Six months ended June 30,
 
2011
 
2010
 
2011
 
2010
BASIC AND DILUTED
 
 
 
 
 
 
 
Loss from continuing operations attributable to common shareholders
$
(45,769
)
 
$
(17,864
)
 
$
(45,242
)
 
$
(28,348
)
Loss from discontinued operations attributable to common shareholders
(4,770
)
 
(12,515
)
 
(28,935
)
 
(35,079
)
Net loss attributable to common shareholders
$
(50,539
)
 
$
(30,379
)
 
$
(74,177
)
 
$
(63,427
)
Weighted-average number of common shares outstanding
151,526,956


 
133,141,084


 
148,866,015


 
127,339,144


Loss per common share:
 


 
 


 
 


 
 


Loss from continuing operations
$
(0.30
)
 
$
(0.14
)
 
$
(0.31
)
 
$
(0.22
)
Loss from discontinued operations
(0.03
)
 
(0.09
)
 
(0.19
)
 
(0.28
)
Net loss attributable to common shareholders
$
(0.33
)
 
$
(0.23
)
 
$
(0.50
)
 
$
(0.50
)






For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.


During the first quarter of 2011, the Company repurchased and retired 15,296 shares of Series C Cumulative Convertible Preferred Shares at an $86 discount to their historical cost basis. This discount constitutes a deemed negative dividend, offsetting other dividends, and is accretive to common shareholders. Accordingly, net loss was adjusted to arrive at net loss attributable to common shareholders.