Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2014

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 for the three months ended March 31, 2013 because they were anti-dilutive due to our reported net loss. Participating securities of 0.1 million were included in our weighted average number of common shares outstanding for the three months ended March 31, 2014. Typically, diluted EPS is based on the weighted average number of common shares outstanding plus common stock equivalents which include certain stock awards 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, 2014 and 2013 common stock equivalents of 54.5 million and 77.3 million, respectively, were not included because they were anti-dilutive.

	Three Months Ended
	March 31,
	2014		2013
	(In thousands, except per share data)
Basic earnings per share:
Net income (loss)	$	59,982	$	(72,930	)
Weighted average common shares outstanding		338,213		232,348
Basic income (loss) per share	$	0.18	$	(0.31	)
Diluted earnings per share:
Net income (loss)	$	59,982	$	(72,930	)
Effect of dilutive securities:
2% Convertible Senior Notes		3,049		-
Net income (loss) plus assumed conversions	$	63,031	$	(72,930	)
Weighted-average shares - Basic		338,213		232,348
Common stock equivalents		74,967		-
Weighted-average shares - Diluted		413,180		232,348
Diluted income (loss) per share	$	0.15	$	(0.31	)