Note 5 - Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

5.

    Earnings (Loss) Per Common Share

We are authorized to issue

750,000,000

shares of common stock,

$0.25

par value per share. At

March 

31,

2018,

there were

405,166,416

shares of our common stock issued and

4,864,799

shares issued and held in treasury, for a net of

400,301,617

shares outstanding. Basic and diluted income per common share, after preferred dividends, was

$0.02

and

$0.07

for the

three

-month periods ended

March 

31,

2018

and

2017,

respectively.

Diluted income (loss) per share for the

three

months ended

March 

31,

2018

and

2017

excludes the potential effects of outstanding shares of our convertible preferred stock, as their conversion would have

no

effect on the calculation of dilutive shares.

For the

three

months ended

March 

31,

2018,

1,092,307

restricted stock units that were unvested during the quarter and

1,509,159

deferred shares were included in the calculation of diluted earnings (loss) per share, and there were an additional

539,204

unvested restricted stock units and

212,602

deferred shares which were

not

dilutive. For the

three

-month period ended

March 

31,

2017,

2,051,734

restricted stock units that were unvested during the quarter and

727,262

in deferred shares were included in the calculation of diluted earnings (loss) per share.