Earnings per Share

9 Months Ended

Sep. 30, 2013

Earnings per Share

9. Earnings per Share

	For the three months ended						For the nine months ended
	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Basic earnings (loss) per share:
Net income (loss)	$	(262,146	)	$	84,050		$	(124,168	)	$	242,498
Less preferred stock dividends		(5,481)			(2,070	)		(16,441)			(2,070	)
Net income (loss) available to common shareholders	$	(267,627	)	$	81,980		$	(140,609	)	$	240,428
Weighted average shares		98,318,205			98,233,589			98,656,750			91,296,338
Basic earnings (loss) per share	$	(2.72	)	$	0.83		$	(1.43	)	$	2.63
Diluted earnings (loss) per share:
Net income (loss)	$	(262,146	)	$	84,050		$	(124,168	)	$	242,498
Less preferred stock dividends for antidilutive shares		(5,481)			(2,070	)		(16,441)			(2,070	)
Net income (loss) available to common shareholders	$	(267,627	)	$	81,980		$	(140,609	)	$	240,428
Weighted average shares		98,318,205			98,233,589			98,656,750			91,296,338
Potential dilutive shares from exercise of stock options		—			—			—			—
Diluted weighted average shares		98,318,205			98,233,589			98,656,750			91,296,338
Diluted earnings (loss) per share	$	(2.72	)	$	0.83		$	(1.43	)	$	2.63

There are no potentially dilutive shares for the three and nine months ended September 30, 2013 and 2012, respectively.