Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2013

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 1.2 million and 1.1 million for the three months ended March 31, 2013 and 2012, respectively, 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 March 31, 2013 and 2012 common stock equivalents of 77.3 million and 56.0 million, respectively, were not included because they were anti-dilutive.

	Three Months Ended
		March 31,
		2013			2012
	(In thousands, except per share data)
Basic earnings per share:
Weighted average common shares outstanding			232,348			201,528
Net loss		$	(72,930	)	$	(19,555	)
Basic loss per share		$	(0.31	)	$	(0.10	)
Diluted earnings per share:
Weighted-average shares - Basic			232,348			201,528
Common stock equivalents			-			-
Weighted-average shares - Diluted			232,348			201,528
Net loss		$	(72,930	)	$	(19,555	)
Diluted loss per share		$	(0.31	)	$	(0.10	)