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Earnings Per Share
9 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract] 
Earnings Per Share

Note 13 — Earnings Per Share

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and nine months ended September 30, 2011 and 2010 (in thousands, except per share amounts):

 

     Income from
Operations
(Numerator)		     Shares
(Denominator)		      Per-Share
Amount		  

For the Three Months Ended September 30, 2011:

        

Basic income (loss) from operations per share

    $ 762        69,215       $ 0.01   

Effect of dilutive securities

      0        145      
  

 

 

    

 

 

     

Diluted income (loss) from operations per share

    $ 762        69,360       $ 0.01   
  

 

 

    

 

 

     

For the Three Months Ended September 30, 2010:

        

Basic income (loss) from operations per share

    $ (134 )      68,526       $ (0.00 ) 

Effect of dilutive securities

      0        0      
  

 

 

    

 

 

     

Diluted income (loss) from operations per share

    $ (134 )      68,526       $ (0.00 ) 
  

 

 

    

 

 

     

For the Nine Months Ended September 30, 2011:

        

Basic income (loss) from operations per share

    $ (21,698 )      69,013       $ (0.31 ) 

Effect of dilutive securities

      0        0      
  

 

 

    

 

 

     

Diluted income (loss) from operations per share

    $ (21,698 )      69,013       $ (0.31 ) 
  

 

 

    

 

 

     

For the Nine Months Ended September 30, 2010:

        

Basic income (loss) from operations per share

    $ 23,006        68,179       $ 0.34   

Effect of dilutive securities

      0        677      
  

 

 

    

 

 

     

Diluted income (loss) from operations per share

    $ 23,006        68,856       $ 0.33   
  

 

 

    

 

 

     

The computation of diluted earnings per share excludes unexercised stock options and unvested restricted stock units that are anti-dilutive. The following common stock equivalents were excluded from the earnings per share computation, as their inclusion would have been anti-dilutive (in thousands):

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2011      2010      2011      2010  

Weighted average number of stock options, SARs and RSUs, calculated using the treasury stock method, that were excluded due to the exercise/threshold price exceeding the average market price of our common stock during the period

      3,541         4,305         3,995         3,972   

Weighted average number of stock options, SARs and RSUs excluded due to the reporting of a net loss for the period

      0         334         172         0   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total common stock equivalents excluded from diluted net income (loss) per share computation

      3,541         4,639         4,167         3,972   
  

 

 

     

 

 

     

 

 

     

 

 

  

There were no transactions subsequent to September 30, 2011, which, had they occurred prior to the end of our third quarter, would have changed materially the number of shares in the basic or diluted earnings per share computations.