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Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

(6) EARNINGS PER SHARE

 

The following table presents the computation of earnings per share for the three- and nine-month periods ended September  30, 2013 and 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

For the nine months ended

 

September 30,

 

September 30,

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (in thousands)

$
185,867 

 

$
(54,053)

 

$
559,013 

 

$
(351,481)

 

 

 

 

 

 

 

 

 

 

 

 

Number of common shares:

 

 

 

 

 

 

 

 

 

 

 

Weighted average outstanding

 
350,517,337 

 

 
348,649,630 

 

 
350,334,634 

 

 
348,272,192 

Issued upon assumed exercise of outstanding stock options

 
373,152 

 

 

–  

 

 
442,678 

 

 

–  

Effect of issuance of nonvested restricted common stock

 
332,341 

 

 

–  

 

 
237,662 

 

 

–  

Weighted average and potential dilutive outstanding(1)

 
351,222,830 

 

 
348,649,630 

 

 
351,014,974 

 

 
348,272,192 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$
0.53 

 

$
(0.16)

 

$
1.60 

 

$
(1.01)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

$
0.53 

 

$
(0.16)

 

$
1.59 

 

$
(1.01)

 

(1) Options for 1,550,838 shares and 15,703 shares of restricted stock were excluded from the calculation for the three months ended September 30, 2013 because they would have had an antidilutive effect.  Due to the net loss for the three months ended September 30, 2012, options for 1,664,232 shares and 560,848 shares of restricted stock were antidilutive and excluded from the calculation.  Options for 1,848,566 shares and 169,261 shares of restricted stock were excluded from the calculation for the nine months ended September 30, 2013 because they would have had an antidilutive effect.  Due to the net loss for the nine months ended September 30, 2012, options for 1,685,398 shares and 580,227 shares of restricted stock were antidilutive and excluded from the calculation.