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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Allocation of distributed and undistributed earnings to both common shares and restricted common shares
In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period as follows: 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2011
 
2012
 
2011
 
2012
Weighted-average shares:
 
 
 
 
 
 
 
Common shares outstanding
72,950,361

 
70,349,265

 
75,791,005

 
71,248,765

Restricted common shares
970,559

 
571,326

 
965,655

 
596,749

Total weighted-average shares
73,920,920

 
70,920,591

 
76,756,660

 
71,845,514

 
 
 
 
 
 
 
 
Percentage of weighted-average shares:
 
 
 
 
 
 
 
Common shares outstanding
98.69
%
 
99.19
%
 
98.74
%
 
99.17
%
Restricted common shares
1.31
%
 
0.81
%
 
1.26
%
 
0.83
%
Total
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
Basic and Diluted earnings per share
The calculations of both basic and diluted earnings per share are as follows: 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2011
 
2012
 
2011
 
2012
 
Earnings (loss) per share – Basic:
 
 
 
 
 
 
 
 
Net income (loss)
$
22,665

 
$
(45,847
)
 
$
88,651

 
$
3,079

  
Less: Distributed and undistributed earnings allocated to  restricted common shares (a)
(298
)
 
369

 
(1,115
)
 
(25
)
 
Earnings (loss) available to common shareholders – Basic
$
22,367

 
$
(45,478
)
 
$
87,536

 
$
3,054

 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding – Basic
72,950,361

 
70,349,265

 
75,791,005

 
71,248,765

 
 
 
 
 
 
 
 
 
 
Earnings (loss) per common share – Basic
$
0.31

 
$
(0.65
)
 
$
1.15

 
$
0.04

 
 
 
 
 
 
 
 
 
 
Earnings (loss) per share – Diluted:
 
 
 
 
 
 
 
 
Net income (loss)
$
22,665

 
$
(45,847
)
 
$
88,651

 
$
3,079

 
Less: Distributed and undistributed earnings allocated to  restricted common shares(a)
(298
)
 
369

 
(1,115
)
 
(25
)
 
Earnings (loss) available to common shareholders – Diluted
$
22,367

 
$
(45,478
)
 
$
87,536

 
$
3,054

  
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding – Basic
72,950,361

 
70,349,265

 
75,791,005

  
71,248,765

  
Effect of dilutive shares
—

(b) 
—

(b) 
—

(b)  
—

(b)  
Weighted-average common shares outstanding – Diluted
72,950,361

 
70,349,265

 
75,791,005

  
71,248,765

  
 
 
 
 
 
 
 
 
 
Earnings (loss) per common share – Diluted
$
0.31

 
$
(0.65
)
 
$
1.15

  
$
0.04

  
 
(a)
For the three months ended September 30, 2011 and 2012, distributed and undistributed earnings to restricted shares is 1.31% and 0.81%, respectively, of net income. For the nine months ended September 30, 2011 and 2012, distributed and undistributed earnings to restricted share is 1.26% and 0.83%, respectively. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings.
(b)
For the three and nine months ended September 30, 2011 and 2012, we have no dilutive shares.