Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2012

Earnings (Loss) per Share [Abstract]

Earnings (Loss) per Share

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 1.1 million for each of the three and nine months ended September 30, 2012 and 1.0 million and 1.8 million, respectively, for the three and nine months ended September 30, 2011 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, 2012 and 2011 common stock equivalents of 55.4 million and 55.5 million, respectively, and for each of the nine months ended September 30, 2012 and 2011 common stock equivalents of 55.6 million were not included because they were anti-dilutive.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
	(In thousands, except per share data)
Basic earnings per share:
Weighted average common shares outstanding		202,014			201,109			201,851			200,983
Net loss	$	(246,942	)	$	(165,205	)	$	(540,388	)	$	(350,598	)
Basic loss per share	$	(1.22	)	$	(0.82	)	$	(2.68	)	$	(1.74	)
Diluted earnings per share:
Weighted-average shares - Basic		202,014			201,109			201,851			200,983
Common stock equivalents		-			-			-			-
Weighted-average shares - Diluted		202,014			201,109			201,851			200,983
Net loss	$	(246,942	)	$	(165,205	)	$	(540,388	)	$	(350,598	)
Diluted loss per share	$	(1.22	)	$	(0.82	)	$	(2.68	)	$	(1.74	)