EXHIBIT 11 – COMPUTATION OF INCOME (LOSS) PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 

2013

 

2012

 

2013

 

2012

NUMERATOR:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the

      Company – common shares

$

 4,218  

 

$

 17,284  

 

$

 (61,152) 

 

$

 (34,702) 

 

Less: Participating securities dividends

 

 -  

 

 

 319  

 

 

 2,566  

 

 

 8,177  

Net income (loss) attributable to the Company per

      common share – basic and diluted

$

 4,218  

 

$

 16,965  

 

$

 (63,718) 

 

$

 (42,879) 

 

 

 

 

 

 

 

 

 

 

 

 

 

DENOMINATOR:

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

 357,665  

 

 

 357,108  

 

 

 357,507  

 

 

 356,808  

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock (1)

 

 1,346  

 

 

 439  

 

 

 -  

 

 

 -  

Weighted average common shares outstanding – diluted

 

 359,011  

 

 

 357,547  

 

 

 357,507  

 

 

 356,808  

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company

      per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

 0.01  

 

$

 0.05  

 

$

 (0.18) 

 

$

 (0.12) 

 

Diluted

$

 0.01  

 

$

 0.05  

 

$

 (0.18) 

 

$

 (0.12) 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)     Equity awards of 5.8 million and 8.3 million were outstanding for the three months ended September 30, 2013 and 2012, respectively, and 9.4 million and 10.0 million were outstanding for the nine months ended September 30, 2013 and 2012, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.