Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

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 September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
Net loss attributable to common shareholders:
Net loss attributable to common shareholders	$	(5,591	)	$	(58,350	)	$	(181,990	)	$	(142,155	)
Add impact of assumed preferred stock conversions (if-converted method)		—			—			—			—
Net loss attributable to common shareholders and impact of assumed conversions	$	(5,591	)	$	(58,350	)	$	(181,990	)	$	(142,155	)
Weighted average shares outstanding:
Weighted average shares outstanding—basic		51,113			50,800			51,061			50,673
Effect of potentially dilutive securities—stock options and warrants		—			—			—			—
Nonvested restricted stock		—			—			—			—
Preferred stock		—			—			—			—
Weighted average shares outstanding—diluted		51,113			50,800			51,061			50,673
Net loss per share attributable to common shareholders:
Basic	$	(0.11	)	$	(1.15	)	$	(3.56	)	$	(2.81	)
Diluted	$	(0.11	)	$	(1.15	)	$	(3.56	)	$	(2.81	)

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Net loss attributable to common shareholders:
Preferred stock dividends	$	6,725	$	2,820	$	12,270	$	8,420
Weighted average shares outstanding:
Common stock equivalents		269		295		414		503
Assumed conversion of preferred stock		14,077		6,306		9,238		6,306
Out-of-the-money stock options		1,098		1,009		950		1,167