Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share

The following table details the Company’s calculation of earnings per share for the three and six months ended June 30, 2014 and 2013.  

	Three Months Ended June 30						Six Months Ended June 30
	2014			2013			2014			2013
Basic earnings (loss) per share:
Net income (loss)	$	(12,477	)	$	70,739		$	4,321		$	137,978
Less preferred stock dividends		(5,481	)		(5,480	)		(10,961	)		(10,960	)
Net income (loss) available to common shareholders	$	(17,958	)	$	65,259		$	(6,640	)	$	127,018
Weighted average shares		96,515,599			98,830,054			96,560,590			98,828,827
Basic earnings (loss) per share	$	(0.19	)	$	0.66		$	(0.07	)	$	1.29
Diluted earnings (loss) per share:
Net income	$	(12,477	)	$	70,739		$	4,321		$	137,978
Less preferred stock dividends for antidilutive shares		(5,481	)		(5,480	)		(10,961	)		(10,960	)
Net income (loss) available to common shareholders	$	(17,958	)	$	65,259		$	(6,640	)	$	127,018
Weighted average shares		96,515,599			98,830,054			96,560,590			98,828,827
Potential dilutive shares from exercise of stock options		-			-			-			-
Diluted weighted average shares		96,515,599			98,830,054			96,560,590			98,828,827
Diluted earnings (loss) per share	$	(0.19	)	$	0.66		$	(0.07	)	$	1.29