Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

The following table details the Company’s calculation of earnings per share for the three and nine months ended September 30, 2015 and 2014.  

	Three Months Ended September 30						Nine Months Ended September 30
	2015			2014			2015			2014
Basic earnings (loss) per share:
Net income (loss)	$	(83,892	)	$	77,891		$	(93,871	)	$	82,212
Less preferred stock dividends		(5,480	)		(5,480	)		(16,441	)		(16,441	)
Net income (loss) available to common shareholders	$	(89,372	)	$	72,411		$	(110,312	)	$	65,771
Weighted average shares		96,545,913			96,563,132			96,705,682			96,561,446
Basic earnings (loss) per share	$	(0.93	)	$	0.75		$	(1.14	)	$	0.68
Diluted earnings (loss) per share:
Net income (loss)	$	(83,892	)	$	77,891		$	(93,871	)	$	82,212
Less preferred stock dividends for antidilutive shares		(5,480	)		(5,480	)		(16,441	)		(16,441	)
Net income (loss) available to common shareholders	$	(89,372	)	$	72,411		$	(110,312	)	$	65,771
Weighted average shares		96,545,913			96,563,132			96,705,682			96,561,446
Potential dilutive shares from exercise of stock options		-			-			-			-
Diluted weighted average shares		96,545,913			96,563,132			96,705,682			96,561,446
Diluted earnings (loss) per share	$	(0.93	)	$	0.75		$	(1.14	)	$	0.68