Note 8 — Earning per Share

The following tables show a reconciliation of the numerators used in calculating basic and diluted earnings/(loss) per share attributable to common shareholders:


	Three Months Ended				Six Months Ended
	June 30				June 30
(Dollars in thousands)	2011		2010		2011		2010

Income from continuing operations	$	19,048	$	20,349	$	61,090	$	17,532
Income/(loss) from discontinued operations, net of tax		3,788		129		4,748		(6,947	)

Net income		22,836		20,478		65,838		10,585
Net income attributable to noncontrolling interest		2,844		2,844		5,688		5,688

Net income attributable to controlling interest		19,992		17,634		60,150		4,897
Preferred stock dividends		—		14,938		—		29,856

Net income/(loss) available to common shareholders	$	19,992	$	2,696	$	60,150	$	(24,959	)


Income from continuing operations	$	19,048	$	20,349	$	61,090	$	17,532
Net income attributable to noncontrolling interest		2,844		2,844		5,688		5,688
Preferred stock dividends		—		14,938		—		29,856

Net income/(loss) from continuing operations available to common shareholders	$	16,204	$	2,567	$	55,402	$	(18,012	)

The following table provides a reconciliation of weighted average common shares to diluted average common shares:

Three Months Ended

Six Months Ended

June 30

(In thousands)

2011

2010

2011

2010

Weighted average common shares outstanding — basic ^(a)

261,289

234,556

261,233

234,513

Effect of dilutive securities ^(a)

1,467

6,412

2,457

—

Weighted average common shares outstanding — diluted ^(a)

262,756

240,968

263,690

234,513


(a)		All share data has been restated to reflect stock dividends distributed through January 1, 2011.

The following table provides a reconciliation of earnings/(loss) per common and diluted shares:


	Three Months Ended				Six Months Ended
	June 30				June 30
Earnings/(loss) per common share:	2011		2010		2011		2010

Earnings/(loss) per share from continuing operations available to common shareholders	$	0.06	$	0.01	$	0.21	$	(0.08	)
Earnings/(loss) per share from discontinued operations, net of tax		0.02		—		0.02		(0.03	)

Net earnings/(loss) per share available to common shareholders	$	0.08	$	0.01	$	0.23	$	(0.11	)


Diluted earnings/(loss) per common share:

Diluted earnings/(loss) per share from continuing operations available to common shareholders	$	0.06	$	0.01	$	0.21	$	(0.08	)
Diluted earnings/(loss) per share from discontinued operations, net of tax		0.02		—		0.02		(0.03	)

Net diluted earnings/(loss) per share available to common shareholders	$	0.08	$	0.01	$	0.23	$	(0.11	)

For the three and six months ended June 30, 2011, the dilutive effect for all potential common shares was 1.5 million and 2.5 million, respectively. For the three months ended June 30, 2010, the dilutive effect for all potential common shares was 6.4 million. For the six months ended June 30, 2010, all potential common shares were antidilutive due to the net loss attributable to common shareholders for that period. Stock options of 10.8 million and 10.9 million with a weighted average exercise price of $24.44 and $28.23 per share for the three months ended June 30, 2011 and 2010, respectively, were excluded from diluted shares because including such shares would have been antidilutive. Stock options of 10.2 million and 12.8 million with a weighted average exercise price of $26.12 and $26.74 per share for the six months ended June 30, 2011 and 2010, respectively, were excluded also from diluted shares. Other equity awards of .4 million and .3 million for the three months ended June 30, 2011 and 2010, respectively, were excluded from diluted shares, while other equity awards of .2 million and 3.5 million for the six months ended June 30, 2011 and 2010, respectfully, were excluded from diluted shares because including such shares would have been antidilutive. Additionally, 14.8 million potential common shares related to the capital purchase program ("CPP") common stock warrant were excluded from the computation of diluted loss per common share for the six months ended June 30, 2010, because such shares would have been antidilutive. The CPP common stock warrant was repurchased in first quarter 2011. The warrant resulted in .9 million dilutive shares for the six-month period ended June 30, 2011. There was no impact on diluted shares for the three months ended June 30, 2011.