EXHIBIT 11 – COMPUTATION OF INCOME (LOSS) PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 

2014

 

2013

 

2014

 

2013

NUMERATOR:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the

      Company – common shares

$

 (7,063) 

 

$

 4,218  

 

$

 (52,896) 

 

$

 (61,152) 

 

Less: Participating securities dividends

 

 -  

 

 

 -  

 

 

 -  

 

 

 2,566  

Net income (loss) attributable to the Company per

      common share – basic and diluted

$

 (7,063) 

 

$

 4,218  

 

$

 (52,896) 

 

$

 (63,718) 

 

 

 

 

 

 

 

 

 

 

 

 

 

DENOMINATOR:

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

 358,653  

 

 

 357,665  

 

 

 358,502  

 

 

 357,507  

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock (1)

 

 -  

 

 

 1,346  

 

 

 -  

 

 

 -  

Weighted average common shares outstanding – diluted

 

 358,653  

 

 

 359,011  

 

 

 358,502  

 

 

 357,507  

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to the Company

      per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

 (0.02) 

 

$

 0.01  

 

$

 (0.15) 

 

$

 (0.18) 

 

Diluted

$

 (0.02) 

 

$

 0.01  

 

$

 (0.15) 

 

$

 (0.18) 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)     Equity awards of 8.9 million and 5.8 million were outstanding for the three months ended September 30, 2014 and 2013, respectively, and 8.9 million and 9.4 million were outstanding for the nine months ended September 30, 2014 and 2013, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.