Earnings Per Share

3 Months Ended

Mar. 31, 2012

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 March 31,
	2012			2011
Net loss attributable to common shareholders:
Net loss attributable to common shareholders	$	(145,079	)	$	(119,547	)
Add impact of assumed preferred stock conversions (if-converted method)		—			—
Net loss attributable to common shareholders and impact of assumed conversions	$	(145,079	)	$	(119,547	)
Weighted average shares outstanding:
Weighted average shares outstanding - basic		51,328			51,020
Effect of potentially dilutive securities - stock options and warrants		—			—
Nonvested restricted stock		—			—
Preferred stock		—			—
Weighted average shares outstanding - diluted		51,328			51,020
Net loss per share attributable to common shareholders:
Basic	$	(2.83	)	$	(2.34	)
Diluted	$	(2.83	)	$	(2.34	)

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

	Three Months Ended March 31,
	2012		2011
Net loss attributable to common shareholders:
Preferred stock dividends	$	6,179	$	2,758
Weighted average shares outstanding:
Common stock equivalents		252		477
Assumed conversion of preferred stock		14,077		6,306
Out-of-the-money stock options		1,299		663