Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share

Earnings Per Share

(12) Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computations (amounts in thousands, except per share amounts):

	September 30,
	2012			2011
Three Months Ended
Net income for basic and diluted earnings per share	$	232		$	10,477
Shares of common stock and common stock equivalents:
Average common shares used in basic computation	38,301			40,615
Effect of dilutive securities	951			656
Average common shares used in diluted computation	39,252			41,271
Earnings per share:
Basic	$	0.01		$	0.26
Diluted	$	0.01		$	0.25
Nine Months Ended
Net loss for basic and diluted earnings per share	$	(241,406	)	$	(176,117	)
Shares of common stock and common stock equivalents:
Average common shares used in basic computation	38,672			41,051
Effect of dilutive securities	—			—
Average common shares used in diluted computation	38,672			41,051
Loss earnings per share:
Basic	$	(6.24	)	$	(4.29	)
Diluted	$	(6.24	)	$	(4.29	)

The following is a summary of anti-dilutive equity awards not included in the detailed earnings per share computations (amounts in thousands):

	September 30,
	2012	2011
Three months ended	672	1,451
Nine months ended	1,608	2,233

Since the Company reported losses for the nine month periods ended September 30, 2012 and 2011, the impact of all common stock equivalents on per share amounts are not included in the calculation of diluted loss per share for these periods as they would be anti-dilutive.