Earnings (Losses) Per Share

3 Months Ended

Mar. 31, 2013

Earnings (Losses) Per Share

Earnings (Losses) Per Share

Note 10 Earnings (Losses) Per Share

A reconciliation of the numerators and denominators of the basic and diluted earnings (losses) per share computations is as follows:

	Three Months Ended March 31,
	2013			2012
	(In thousands, except per share amounts)
Net income (loss) (numerator):
Income (loss) from continuing operations, net of tax	$	97,172		$	142,618
Less: net (income) loss attributable noncontrolling interest	(97		)	267
Less: earnings allocated to unvested shareholders	(814		)	—
Adjusted income (loss) from continuing operations - basic and diluted	$	96,261		$	142,885
Income (loss) from discontinued operations, net of tax	$	2,046		$	(8,795	)
Earnings (losses) per share:
Basic from continuing operations	$	0.33		$	0.50
Basic from discontinued operations	0.01			(0.04		)
Total Basic	$	0.34		$	0.46
Diluted from continuing operations	$	0.33		$	0.49
Diluted from discontinued operations	—			(0.03		)
Total Diluted	$	0.33		$	0.46
Shares (denominator):
Weighted-average number of shares outstanding - basic	291,687			288,538
Net effect of dilutive stock options, warrants and restricted stock awards based on the if-converted method	2,483			3,171
Weighted-average number of shares outstanding - diluted	294,170			291,709

For all periods presented, the computation of diluted earnings (losses) per share excludes outstanding stock options and warrants with exercise prices greater than the average market price of our common shares, because their inclusion would be anti-dilutive and because they are not considered participating securities. The average number of options and warrants that were excluded from diluted earnings (losses) per share that would potentially dilute earnings per share were 12,452,263 and 11,763,048 shares during the three months ended March 31, 2013 and 2012, respectively.  In any period during which the average market price of our common shares exceeds the exercise prices of these stock options and warrants, such stock options and warrants will be included in our diluted earnings (losses) per share computation using the if-converted method of accounting. Restricted stock is included in our basic and diluted earnings (losses) per share computation using the two-class method of accounting in all periods because such stock is considered participating securities.