Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

November 9, 2009

Documents

Exhibit 11

EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE

 

(In thousands, except per share data)    Three Months
Ended
September 30,		     Period from
July 31
through
September 30,		    Period from
July 1
through
July 30,		     Nine Months
Ended
September 30,		     Period from
July 31
through
September 30,		    Period from
January 1
through
July 30,
     2009
Post-merger 		    2008
Post-merger
As adjusted* 		   2008
Pre-merger
As adjusted* 		    2009
Post-merger 		    2008
Post-merger
As adjusted* 		   2008
Pre-merger
As adjusted*

Basic and diluted numerator:

               

Income (loss) attributable to the Company – Common Shares

    $ (34,376 )    $ 10,814    $ (1,699 )    $ (811,354 )    $ 10,802    $ 167,340

Preferential distribution

      (1,221 )      —        —          (1,221 )      —        —  

Income attributable to the Company – Unvested Shares

      —          —        —          —          12      214
                                            

Income (loss) attributable to the Company

    $ (35,597 )    $ 10,814    $ (1,699 )    $ (812,575 )    $ 10,814    $ 167,554

Denominator:

               

Weighted average common shares – basic

      355,389        355,294      355,294        355,364        355,294      355,178

Effect of dilutive securities:

               

Stock options and restricted stock

      —          361      —          —          361      563
                                            

Weighted average common shares – diluted

      355,389        355,655      355,294        355,364        355,655      355,741

Net income (loss) per basic common share

    $ (.10 )    $ .03    $ (.00 )    $ (2.29 )    $ .03    $ .47

Net income (loss) per diluted common share

    $ (.10 )    $ .03    $ (.00 )    $ (2.29 )    $ .03    $ .47

 

* Reflects implementation of Financial Accounting Standards Board Staff Position Emerging Issues Task Force 03-6-1, Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities, codified in ASC 260-10-45. See Note 1 in Item 1 of Part 1 of this Quarterly Report on Form 10-Q for additional information.

Equity awards of 6.8 million and 6.3 million were outstanding as of September 30, 2009 and 2008, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.