Exhibit 11

 

EXHIBIT 11 –   COMPUTATION OF EARNINGS (LOSS) PER SHARE

 

(In thousands, except per share data)    Three Months Ended March 31,  
     2011     2010  

NUMERATOR:

    

Loss attributable to the Company – common shares

   $ (9,541   $ (47,782

Less: Participating securities dividends

     1,213        1,150   

Less: Income (loss) attributable to the Company – unvested shares

     —          —     
                

Net loss attributable to the Company per common share – basic and diluted

   $ (10,754   $ (48,932

DENOMINATOR:

    

Weighted average common shares outstanding – basic

     355,793        355,461   

Effect of dilutive securities:

    

Stock options and restricted stock (1)

     —          —     
                

Weighted average common shares outstanding – diluted

     355,793        355,461   

Net loss attributable to the Company per common share:

    

Basic

   $ (0.03   $ (0.14

Diluted

   $ (0.03   $ (0.14

 

(1) Equity awards of 6.4 million and 6.2 million were outstanding as of March 31, 2011 and 2010, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.