Net Loss Per Share

9 Months Ended

Sep. 30, 2013

Net Loss Per Share

Net Loss Per Share

Note 7—Net Loss Per Share

        A reconciliation of the basic and diluted net loss per share computations for the three and nine months ended September 30, 2013 and 2012 is as follows (in thousands, except per share data):

	For the three months ended September 30,
	2013						2012
	Basic			Diluted			Basic			Diluted
Numerator:
Net loss	$	(100,724	)	$	(100,724	)	$	(1,061,956	)	$	(1,061,956	)
Denominator:
Average number of common shares outstanding		62,573			62,573			62,572			62,572
Effect of dilutive securities:
Stock awards(1)		—			—			—			—
		62,573			62,573			62,572			62,572
Net loss per share	$	(1.61	)	$	(1.61	)	$	(16.97	)	$	(16.97	)

	For the nine months ended September 30,
	2013						2012
	Basic			Diluted			Basic			Diluted
Numerator:
Loss from continuing operations	$	(184,660	)	$	(184,660	)	$	(994,584	)	$	(994,584	)
Income from discontinued operations	$	—		$	—		$	5,180		$	5,180
Denominator:
Average number of common shares outstanding		62,555			62,555			62,524			62,524
Effect of dilutive securities:
Stock awards(1)		—			—			—			—
		62,555			62,555			62,524			62,524
Loss from continuing operations	$	(2.95	)	$	(2.95	)	$	(15.91	)	$	(15.91	)
Income from discontinued operations		—			—			0.09			0.09
Net loss per share	$	(2.95	)	$	(2.95	)	$	(15.82	)	$	(15.82	)

(1)

Stock awards represent the weighted average number of shares of common stock issuable on the exercise of dilutive employee stock options and vesting of restricted stock units, less the number of shares of common stock which could have been purchased with the proceeds from the exercise of such stock awards. In periods of net loss, the number of shares used to calculate diluted earnings per share is the same as basic earnings per share; therefore, the effect of dilutive securities is zero for such periods. The weighted average number of stock options and non-vested shares outstanding for the three months ended September 30, 2013 and 2012 totaling 675,216 and 291,517, respectively, were excluded from the calculation above because their effect would have been anti-dilutive. Additionally, the weighted average number of stock options and non-vested shares outstanding for the nine months ended September 30, 2013 and 2012 totaling 525,402 and 224,240, respectively, were excluded from the calculation above because their effect would have been anti-dilutive.

        The tables below set forth stock options exercised and restricted stock units vested for the three and nine months ended September 30, 2013 and 2012:

	For the three months ended September 30,
	2013		2012
Stock options		—		1,500
Restricted stock units		4,558		3,470
Total		4,558		4,970

	For the nine months ended September 30,
	2013		2012
Stock options		24,831		20,759
Restricted stock units		30,234		32,085
Total		55,065		52,844