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Net Earnings (Loss) Per Common Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Net Earnings (Loss) Per Common Share
Net Earnings (Loss) Per Common Share

The following table sets forth the computation of basic and diluted net earnings (loss) per common share for the periods indicated. 
(In thousands except per share data)
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Basic
 
 
 
 
 
 
 
Average common shares outstanding
32,006

 
31,902

 
32,005

 
31,902

 
 
 
 
 
 
 
 
Net loss from continuing operations
(28,725
)
 
(6,274
)
 
(62,075
)
 
(38,325
)
Net earnings from discontinued operations
13,629

 
22,376

 
15,390

 
77,146

Net earnings (loss)
(15,096
)
 
16,102

 
(46,685
)
 
38,821

 
 
 
 
 
 
 
 
Net loss per common share from continuing operations
$
(0.90
)
 
$
(0.20
)
 
$
(1.94
)
 
$
(1.20
)
Net earnings per common share from discontinued operations
$
0.43

 
$
0.70

 
$
0.48

 
$
2.42

Net earnings (loss) per common share
$
(0.47
)
 
$
0.50

 
$
(1.46
)
 
$
1.22

 
 
 
 
 
 
 
 
Diluted
 
 
 
 
 
 
 
Average common shares outstanding
32,006

 
31,902

 
32,005

 
31,902

Stock options and awards
188

 
164

 
211

 
107

Average common shares assuming dilution
32,194

 
32,066

 
32,216

 
32,009

 
 
 
 
 
 
 
 
Net loss from continuing operations
$
(28,725
)
 
$
(6,274
)
 
$
(62,075
)
 
$
(38,325
)
Net earnings from discontinued operations
$
13,629

 
$
22,376

 
$
15,390

 
$
77,146

Net earnings (loss)
$
(15,096
)
 
$
16,102

 
$
(46,685
)
 
$
38,821

 
 
 
 
 
 
 
 
Net loss per common share from continuing operations *
$
(0.90
)
 
$
(0.20
)
 
$
(1.94
)
 
$
(1.20
)
Net earnings per common share from discontinued operations
$
0.42

 
$
0.70

 
$
0.48

 
$
2.41

Net earnings (loss) per common share *
$
(0.47
)
 
$
0.50

 
$
(1.46
)
 
$
1.21



* Net loss per common share assuming dilution calculated utilizing weighted average shares outstanding-basic for the periods in which there was a net loss.

At September 30, 2014, 3,607,069 and 3,104,623 shares associated with stock options were excluded from the average common shares assuming dilution for the three and nine months ended September 30, 2014 as they were anti-dilutive. At September 30, 2014, the majority of the anti-dilutive shares were granted at an exercise price of $41.87, which was higher than the average fair market value prices of $15.24 and $17.55, respectively, for the three and nine months ended September 30, 2014. At September 30, 2013, 4,375,829 and 4,406,045 shares associated with stock options were excluded from the average common shares assuming dilution for the three and nine months ended September 30, 2013 as they were anti-dilutive. At September 30, 2013, the majority of the anti-dilutive shares were granted at an exercise price of $41.87, which was higher than the average fair market value prices of $15.88 and $15.04, respectively, for the three and nine months ended September 30, 2013. For the nine months ended September 30, 2014 and September 30, 2013, there were no shares necessary to settle a conversion spread on the convertible notes to be included in the common shares assuming dilution as the average market price of the Company stock for these periods did not exceed the conversion price.