(LOSS) EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

(LOSS) EARNINGS PER SHARE

(LOSS) EARNINGS PER SHARE

11. (LOSS) EARNINGS PER SHARE

Basic (loss) earnings per share for common stock is calculated by dividing net (loss) income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted (loss) earnings per share is calculated by dividing net (loss) income by the sum of: (i) the weighted average number of shares outstanding, (ii) outstanding stock options and RSUs (using the “treasury stock” method when the impact of such options and RSUs would be dilutive), and (iii) any contingently issuable shares when dilutive.

Basic and diluted (loss) earnings per share for the years ended December 31, 2012, 2011 and 2010 were as follows:

	December 31,
	2012			2011			2010
Basic (loss) earnings per share
GFI’s net (loss) income	$	(9,953	)	$	(3,181	)	$	25,615
Weighted average common shares outstanding	116,014,202			118,334,995			120,275,918
Basic (loss) earnings per share	$	(0.09	)	$	(0.03	)	$	0.21
Diluted (loss) earnings per share
GFI’s net (loss) income	$	(9,953	)	$	(3,181	)	$	25,615
Weighted average common shares outstanding	116,014,202			118,334,995			120,275,918
Effect of dilutive options, RSUs and other contingently issuable shares	—			—			5,246,210
Weighted average shares outstanding and common stock equivalents	116,014,202			118,334,995			125,522,128
Diluted (loss) earnings per share	$	(0.09	)	$	(0.03	)	$	0.20

Excluded from the computation of diluted (loss) earnings per share because their effect would be anti-dilutive were the following: (i) 7,195,315 RSUs and 206,826 stock options for the year ended December 31, 2012; (ii) 2,437,984 RSUs and 96,752 stock options for the year ended December 31, 2011; and (iii) 1,643,217 RSUs and 56,033 stock options for the year ended December 31, 2010.

Included in the computation of diluted (loss) earnings per share, but not in the computation of basic (loss) earnings per share, as the conditions for issuance were not satisfied as of the respective reporting period were 1,414,644 contingently issuable shares for the year ended December 31, 2010.

As a result of the net loss for the year ended December 31, 2012, the following were excluded from the computation of diluted loss per share for that period: common shares underlying options to purchase 48,431 shares of common stock, 3,709,611 RSUs, and 3,682,916 shares that were contingently issuable.

As a result of the net loss for the year ended December 31, 2011, the following were excluded from the computation of diluted loss per share for that period: common shares underlying options to purchase 146,257 shares of common stock, 4,191,049 RSUs, and 3,936,047 shares that were contingently issuable.