Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share

Note 11 — Earnings Per Share

Basic and diluted net loss per share ('EPS") is computed based on the following information (in thousands, except per share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Net loss attributable to common shareholders:
Net loss attributable to common shareholders	$	(56,852	)	$	(82,919	)	$	(176,399	)	$	(83,805	)
Add impact of assumed preferred stock conversions (if-converted method)		—			—			—			—
Net loss attributable to common shareholders and impact of assumed conversions	$	(56,852	)	$	(82,919	)	$	(176,399	)	$	(83,805	)
Weighted average shares outstanding:
Weighted average shares outstanding — basic		51,048			50,767			51,034			50,609
Effect of potentially dilutive securities — stock options and warrants		—			—			—			—
Nonvested restricted stock		—			—			—			—
Preferred stock		—			—			—			—
Weighted average shares outstanding — diluted		51,048			50,767			51,034			50,609
Net loss per share attributable to common shareholders:
Basic	$	(1.11	)	$	(1.63	)	$	(3.46	)	$	(1.66	)
Diluted	$	(1.11	)	$	(1.63	)	$	(3.46	)	$	(1.66	)

The following were excluded from diluted EPS because their inclusion would have been antidilutive (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Net loss attributable to common shareholders:
Preferred stock dividends	$	2,786	$	2,800	$	5,544	$	5,600
Weighted average shares outstanding:
Common stock equivalents		359		268		228		211
Assumed conversion of preferred stock		7,246		6,300		6,779		6,300
Out-of-the-money stock options		593		1,148		636		1,251