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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
LOSS PER SHARE
Basic loss per share is determined by dividing net loss attributable to Key by the weighted average number of common shares actually outstanding during the period. Diluted loss per common share is based on the increased number of shares that would be outstanding assuming conversion of potentially dilutive outstanding securities using the treasury stock and “as if converted” methods.
The components of our loss per share are as follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2014
 
2013
 
2014
 
2013
 
(in thousands, except per share amounts)
Basic and Diluted EPS Calculation:
 
 
 
 
 
 
 
Numerator
 
 
 
 
 
 
 
Loss attributable to Key
$
(62,229
)
 
$
(4,848
)
 
$
(126,324
)
 
$
(9,250
)
Denominator
 
 
 
 
 
 
 
Weighted average shares outstanding
$
153,550

 
$
152,394

 
$
153,327

 
152,249

Basic and diluted loss per share attributable to Key
$
(0.41
)
 
$
(0.03
)
 
$
(0.82
)
 
$
(0.06
)

Stock options, warrants and stock appreciation rights (“SARs”) are included in the computation of diluted loss per share using the treasury stock method. Restricted stock awards are legally considered issued and outstanding when granted and are included in basic weighted average shares outstanding. The diluted earnings per share calculations for the three months ended September 30, 2014 exclude the potential exercise of 1.3 million stock options and 0.3 million SARs and for the nine months ended September 30, 2014 exclude the potential exercise of 1.4 million stock options and 0.3 million SARs as they would be anti-dilutive given the net loss attributable to Key. The diluted earnings per share calculations for the three months ended September 30, 2013 exclude the potential exercise of 1.6 million stock options and 0.3 million SARs and for the nine months ended September 30, 2013 exclude the potential exercise of 1.7 million stock options and 0.3 million SARs as they would be anti-dilutive given the net loss attributable to Key. No events occurred after September 30, 2014 that would materially affect the number of weighted average shares outstanding.