EXHIBIT 11 – COMPUTATION OF INCOME (LOSS) PER SHARE

(In thousands, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2012 

2011 

2012 

2011 

NUMERATOR:

Net income (loss) attributable to the Company – common shares

$

 (8,116) 

$

 26,695 

$

 (51,986) 

$

 17,154 

Less: Participating securities dividends

 7,858 

 235 

 15,334 

 1,448 

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

 - 

 - 

 - 

 - 

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

$

 (15,974) 

$

 26,460 

$

 (67,320) 

$

 15,706 

DENOMINATOR:

Weighted average common shares outstanding – basic

 356,944 

 355,883 

 356,655 

 355,839 

Effect of dilutive securities:

Stock options and restricted stock (1)

 - 

 775 

 - 

 785 

Weighted average common shares outstanding – diluted

 356,944 

 356,658 

 356,655 

 356,624 

Net income (loss) attributable to the Company per common share:

Basic

$

 (0.04) 

$

 0.07 

$

 (0.19) 

$

 0.04 

Diluted

$

 (0.04) 

$

 0.07 

$

 (0.19) 

$

 0.04 

(1)     Equity awards of 9.9 million and 6.3 million were outstanding as of June 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.