STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (LOSS)
Published on February 21, 2012
EXHIBIT 11 Computation of Per Share Earnings (Loss)
| (In thousands, except per share data) | Year Ended December 31, | |||||||||||
| 2011 | 2010 | 2009 | ||||||||||
| NUMERATOR: |
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| Net income (loss) attributable to the Company common shares |
$ | 42,946 | $ | (87,523) | $ | (868,189) | ||||||
| Less: Participating securities dividends |
2,972 | 5,916 | 6,799 | |||||||||
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| Net income (loss) attributable to the Company per common share basic and diluted |
$ | 39,974 | $ | (93,439) | $ | (874,988) | ||||||
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| DENOMINATOR: |
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| Weighted average common shares outstanding basic |
355,907 | 355,568 | 355,377 | |||||||||
| Effect of dilutive securities: |
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| Stock options and restricted stock awards (1) |
621 | | | |||||||||
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| Weighted average common shares outstanding diluted |
356,528 | 355,568 | 355,377 | |||||||||
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| Net income (loss) attributable to the Company per common share: |
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| Basic |
$ | 0.11 | $ | (0.26) | $ | (2.46) | ||||||
| Diluted |
$ | 0.11 | $ | (0.26) | $ | (2.46) | ||||||
| (1) | 6.0 million, 5.2 million, and 6.7 million stock options were outstanding at December 31, 2011, 2010 and 2009, respectively, that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive as the respective options strike price was greater than the current market price of the shares. |