Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

The computation of basic and diluted earnings per share is as follows:

	Years Ended December 31,
	2011			2010			2009
($ in thousands, except per share amounts)
Net Income (Loss)	$	145,420		$	9,642		$	(6,484	)
Preferred stockholder dividends		(9,482	)		(3,289	)		(3,760	)
Allocation of earnings to preferred stockholders		(24,260	)		(1,144	)		—
Net Income (Loss) Attributable to Common Stockholders	$	111,678		$	5,209		$	(10,244	)
Shares:
Basic: Weighted-average number of shares outstanding		6,211			6,014			5,812
Plus: Incremental shares from assumed conversion of dilutive instruments		623			423			—
Diluted: Weighted-average number of shares outstanding		6,834			6,437			5,812
Earnings (loss) per share—basic	$	17.98		$	0.87		$	(1.76	)
Earnings (loss) per share—diluted	$	16.34		$	0.81		$	(1.76	)

For the year ended December 31, 2011, there were no non-participating securities (stock options) excluded from the above computations of weighted-average shares for diluted earnings per share. For the year ended December 31, 2010, non-participating securities (stock options) representing 150,738 shares of common stock were excluded from the above computations of weighted-average shares for diluted earnings per share due to the antidilutive effect of the securities' exercise prices as compared to the average market price of the common shares during the period. For the year ended December 31, 2009, non-participating securities (RSUs and stock options), which are summarized in Note 15, were excluded from the above computations of weighted-average shares for diluted loss per share due to the net loss for the period.