Earnings per Share

12 Months Ended

Dec. 31, 2013

Earnings per Share

9. Earnings per Share

The following table details the Company’s calculation of earnings per share for the three years ended December 31, 2013, 2012 and 2011:

	2013			2012			2011
Basic earnings per share:
Net income (loss)	$	(134,136	)	$	349,245		$	284,373
Less preferred stock dividends		(21,922	)		(7,551	)		-
Net income (loss) available to common shareholders	$	(156,058	)	$	341,694		$	284,373
Weighted average shares		98,337,362			93,185,520			71,708,058
Basic earnings (loss) per share	$	(1.59	)	$	3.67		$	3.97
Diluted earnings per share:
Net income (loss)	$	(134,136	)	$	349,245		$	284,373
Less preferred stock dividends		(21,922	)		(7,551	)		-
Net income (loss) available to common shareholders	$	(156,058	)	$	341,694		$	284,373
Weighted average shares		98,337,362			93,185,520			71,708,058
Potential dilutive shares from		-			-			-
exercise of stock options
Diluted weighted average shares		98,337,362			93,185,520			71,708,058
Diluted earnings (loss) per share	$	(1.59	)	$	3.67		$	3.97

There were no potentially dilutive shares for the three years ended December 31, 2013.