Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies [Abstract]

Schedule of earnings per share

Our basic EPS is based on the weighted average number of common shares outstanding, which excludes participating securities (with non-forfeitable rights to dividends) of 1.1 million, 1.1 million and 1.8 million, respectively, for the years ended December 31, 2012, 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 always excluded from the calculation. The following is a reconciliation of the weighted average number of shares; for the years ended December 31, 2012, 2011 and 2010, common stock equivalents of 61.7 million, 55.6 million and 47.4 million, respectively, were not included because they were anti-dilutive.

	Years Ended December 31,
	2012			2011			2010
	(In thousands, except per share data)
Basic loss per share:
Average common shares outstanding		201,892			201,019			176,406
Net loss	$	(927,079	)	$	(485,892	)	$	(363,735	)
Basic loss per share	$	(4.59	)	$	(2.42	)	$	(2.06	)
Diluted loss per share:
Weighted-average shares - Basic		201,892			201,019			176,406
Common stock equivalents		-			-			-
Weighted-average shares - Diluted		201,892			201,019			176,406
Net loss	$	(927,079	)	$	(485,892	)	$	(363,735	)
Diluted loss per share	$	(4.59	)	$	(2.42	)	$	(2.06	)

Other comprehensive income

Our other comprehensive income for the years ended December 31, 2012, 2011 and 2010 was as follows:

	2012
							Valuation
	Before tax			Tax effect			allowance			Net of tax
	(In thousands)
Other comprehensive income (loss):
Change in unrealized gains and losses on investments	$	(78,546	)	$	27,510		$	(27,623	)	$	(78,659	)
Amortization related to benefit plans		(1,221	)		428			(428	)		(1,221	)
Unrealized foreign currency translation adjustment		2,452			(859	)		-			1,593
Other comprehensive income (loss)	$	(77,315	)	$	27,079		$	(28,051	)	$	(78,287	)

	2011
							Valuation
	Before tax			Tax effect			allowance		Net of tax
	(In thousands)
Other comprehensive income (loss):
Change in unrealized gains and losses on investments	$	31,662		$	(10,605	)	$	-	$	21,057
Amortization related to benefit plans		(19,789	)		6,927			-		(12,862	)
Unrealized foreign currency translation adjustment		(318	)		111			-		(207	)
Other comprehensive income (loss)	$	11,555		$	(3,567	)	$	-	$	7,988

	2010
							Valuation
	Before tax			Tax effect			allowance			Net of tax
	(In thousands)
Other comprehensive income (loss):
Change in unrealized gains and losses on investments	$	(71,308	)	$	27,220		$	(24,986	)	$	(69,074	)
Amortization related to benefit plans		6,390			(2,236	)		2,236			6,390
Unrealized foreign currency translation adjustment		15,615			(5,479	)		529			10,665
Other comprehensive income (loss)	$	(49,303	)	$	19,505		$	(22,221	)	$	(52,019	)

See Note 14 – "Income Taxes" for a discussion of the valuation allowance.

Accumulated other comprehensive income

Our total accumulated other comprehensive income was as follows:

	December 31,
	2012			2011
	(In thousands)
Unrealized gains (losses) on investments	$	41,541		$	120,087
Defined benefit plans		(71,804	)		(70,582	)
Foreign currency translation adjustment		32,747			30,294
Accumulated other comprehensive income, before tax		2,484			79,799
Tax effect (1)		(50,647	)		(49,675	)
Total accumulated other comprehensive (loss) income	$	(48,163	)	$	30,124

(1) Tax effect does not approximate 35% due to amounts of tax benefits not provided in various periods due to our tax valuation allowance.