Basic Income Per Common Share and Diluted Income Per Common Share

12 Months Ended

Dec. 31, 2011

Basic Income Per Common Share and Diluted Income Per Common Share

Basic Income Per Common Share and Diluted Income Per Common Share

(2) Basic Income Per Common Share and Diluted Income Per Common Share

        Basic income per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted income per common share gives effect to all potentially dilutive common shares that were outstanding during the period. As of December 31, 2011, 2010 and 2009 we had outstanding stock options and restricted stock units which could potentially dilute basic earnings per share in the future. As of December 31, 2009, we also had outstanding potentially dilutive 0.75% convertible senior subordinated debentures due 2024 (the "Convertible Debentures"). The following represents a reconciliation of the numerator and denominator used in computing basic and diluted income available to common stockholders per common share for the years ended December 31, 2011, 2010 and 2009:

	Years Ended December 31,
	2011			2010			2009
Income (numerator)
Net loss	$	(12,570	)	$	(149,201	)	$	(39,879	)
Shares (denominator)
Basic weighted-average common shares outstanding		92,068			92,666			92,701
Effect of dilutive securities-stock rights		—			—			—
Effect of dilutive shares related to Convertible Debentures		—			—			—
Diluted weighted-average common shares outstanding		92,068			92,666			92,701
Basic and diluted per share amounts
Basic net (loss) per share	$	(0.14	)	$	(1.61	)	$	(0.43	)
Diluted net (loss) per share	$	(0.14	)	$	(1.61	)	$	(0.43	)

        For the years ended December 31, 2011, 2010 and 2009, there were no dilutive stock rights due to the net loss reported for the periods.

        For the year ended December 31, 2009, the aggregate number of shares that we could have been obligated to issue upon conversion of the then remaining $9,943 in aggregate principal amount of the Convertible Debentures was approximately 342. The Convertible Debentures provided for net share settlement upon conversion. In December 2004, we purchased a bond hedge to mitigate the potential dilution from conversion of the Convertible Debentures during the term of the bond hedge.

        On June 1, 2010, the remaining $9,943 in aggregate principal amount of the Convertible Debentures was repurchased or redeemed at a price equal to 100% of the aggregate principal amount thereof, together with accrued but unpaid interest thereon. In connection with the repurchase and redemption, we unwound the corresponding remaining portion of the bond hedge (and warrants we had sold to partially offset the cost of the bond hedge).

        During 2010 and 2009, the average price of our common stock did not exceed the conversion price of the Convertible Debentures. Therefore we did not include potentially dilutive shares related to the Convertible Debentures in our diluted weighted-average common shares outstanding.