Earnings (Losses) Per Share

3 Months Ended

Mar. 31, 2014

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,
	2014			2013
	(In thousands, except per share amounts)
Net income (loss) (numerator):
Income (loss) from continuing operations, net of tax	$	48,977		$	92,207
Less: net (income) loss attributable to noncontrolling interest	(573		)	(97		)
Less: (earnings) losses allocated to unvested shareholders	(733		)	(814		)
Adjusted income (loss) from continuing operations - basic and diluted	$	47,671		$	91,296
Income (loss) from discontinued operations, net of tax	$	1,515		$	7,011
Earnings (losses) per share:
Basic from continuing operations	$	0.16		$	0.31
Basic from discontinued operations	0.01			0.03
Total Basic	$	0.17		$	0.34
Diluted from continuing operations	$	0.16		$	0.31
Diluted from discontinued operations	—			0.02
Total Diluted	$	0.16		$	0.33
Shares (denominator):
Weighted-average number of shares outstanding - basic	296,210			291,687
Net effect of dilutive stock options, warrants and restricted stock awards based on the if-converted method	2,840			2,483
Weighted-average number of shares outstanding - diluted	299,050			294,170

For all periods presented, the computation of diluted earnings (losses) per share excludes outstanding stock options 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 7,853,509 and 12,452,263 shares during the three months ended March 31, 2014 and 2013, 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.