Earnings (loss) per share

9 Months Ended

Sep. 30, 2011

Earnings (loss) per share [Abstract]

Note 6 – Earnings (loss) per share

Our basic EPS is based on the weighted average number of common shares outstanding, which excludes participating securities of 1.0 million and 1.8 million, respectively, for the three months ended September 30, 2011 and 2010 and 1.1 million and 1.8 million, respectively, for the nine months ended September 30, 2011 and 2010 because they were anti-dilutive due to our reported net loss. Typically, diluted EPS is based on the weighted average number of common shares outstanding plus common stock equivalents which include certain stock awards, stock options and the dilutive effect of our convertible debt. In accordance with accounting guidance, if we report a net loss from continuing operations then our diluted EPS is computed in the same manner as the basic EPS. In addition if any common stock equivalents are anti-dilutive they are excluded from the calculation. The following includes a reconciliation of the weighted average number of shares; however for the three months ended September 30, 2011 and 2010 common stock equivalents of 55.5 million and 62.3 million, respectively, and for the nine months ended September 30, 2011 and 2010 common stock equivalents of 55.6 million and 51.3 million, respectively, were not included because they were anti-dilutive.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,

	2011			2010				2011			2010
	(In thousands, except per share data)

Basic earnings per share:
Average common shares outstanding		201,109			200,077				200,983			168,429

Net loss	$	(165,205	)	$	(51,528	)		$	(350,598	)	$	(177,068	)

Basic loss per share	$	(0.82	)	$	(0.26	)		$	(1.74	)	$	(1.05	)


Diluted earnings per share:
Weighted-average shares - Basic		201,109			200,077				200,983			168,429
Common stock equivalents		-			-				-			-

Weighted-average shares - Diluted		201,109			200,077				200,983			168,429

Net loss	$	(165,205	)	$	(51,528	)		$	(350,598	)	$	(177,068	)
Diluted loss per share	$	(0.82	)	$	(0.26	)		$	(1.74	)	$	(1.05	)