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Earnings (Loss) per Share
 6 Months Ended
Jun. 30, 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 0.2 million for the six months ended June 30, 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 and six months ended June 30, 2014 and for the three months ended June 30, 2013. 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 June 30, 2014 and 2013 common stock equivalents of 54.5 million and 126.5 million, respectively, and for the six months ended June 30, 2014 and 2013 common stock equivalents of 54.5 million and 100.3 million, respectively, were not included because they were anti-dilutive.

 
 
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
 
 
2014
  
2013
  
2014
  
2013
 
 
 
(In thousands, except per share data)
 
 
 
  
  
  
 
Basic earnings per share:
 
  
  
  
 
 
 
  
  
  
 
Net income (loss)
 
$
45,522
  
$
12,375
  
$
105,504
  
$
(60,555
)
 
                
Weighted average common shares outstanding
  
338,626
   
337,868
   
338,419
   
285,336
 
Basic income (loss) per share
 
$
0.13
  
$
0.04
  
$
0.31
  
$
(0.21
)
 
                
Diluted earnings per share:
                
 
                
Net income (loss)
 
$
45,522
  
$
12,375
  
$
105,504
  
$
(60,555
)
 
                
Effect of dilutive securities:
                
2% Convertible Senior Notes
  
3,049
   
-
   
6,098
   
-
 
 
                
Net income (loss) plus assumed conversions
 
$
48,571
  
$
12,375
  
$
111,602
  
$
(60,555
)
 
                
Weighted-average shares - Basic
  
338,626
   
337,868
   
338,419
   
285,336
 
Common stock equivalents
  
74,855
   
1,473
   
74,955
   
-
 
 
                
Weighted-average shares - Diluted
  
413,481
   
339,341
   
413,374
   
285,336
 
Diluted income (loss) per share
 
$
0.12
  
$
0.04
  
$
0.27
  
$
(0.21
)