Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table summarizes the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2013			2012			2013		2012
Earnings (loss) per common share—basic
Net income (loss)	$	(21,153	)	$	(86,798	)	$	30,578	$	(52,197	)
Less: Preferred stock dividends	1,766			2,414			3,332		7,664
Net income (loss) allocable to common shareholders	$	(22,919	)	$	(89,212	)	$	27,246	$	(59,861	)
Weighted-average common shares outstanding—basic	72,649			67,162			71,613		65,740
Basic earnings (loss) per common share	$	(0.32	)	$	(1.33	)	$	0.38	$	(0.91	)
Earnings (loss) per common share—diluted
Net income (loss)	(21,153		)	$	(86,798	)	$	30,578	$	(52,197	)
Less: Preferred stock dividends	1,766			2,414			3,332		7,664
Add: Interest on convertible debt, net of tax	—			—			3,673		—
Net income (loss) including assumed conversions	$	(22,919	)	$	(89,212	)	$	30,919	$	(59,861	)
Weighted-average common shares outstanding—basic	72,649			67,162			71,613		65,740
Convertible notes weighted-average shares outstanding	—			—			15,000		—
Options and restricted stock	—			—			257		—
Weighted-average common shares outstanding—diluted	72,649			67,162			86,870		65,740
Dilutive earnings (loss) per common share	$	(0.32	)	$	(1.33	)	$	0.36	$	(0.91	)