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EARNINGS (LOSS) PER SHARE:
12 Months Ended
Dec. 31, 2011
EARNINGS (LOSS) PER SHARE:  
EARNINGS (LOSS) PER SHARE:

 

 

11.             EARNINGS (LOSS) PER SHARE:

 

The following table reconciles income (loss) (numerator) and shares (denominator) used in our computations of earnings (loss) per share for the years ended December 31, 2011, 2010 and 2009 (in thousands):

 

 

 

2011

 

2010

 

2009

 

Income (loss) (Numerator)

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

76,588

 

$

75,625

 

$

(137,948

)

Income impact of assumed conversion of the 4.875% Notes, net of taxes

 

180

 

166

 

 

Income impact of assumed conversion of the 6.0% Notes, net of taxes

 

 

2,521

 

 

Net (income) loss attributable to noncontrolling interests included in continuing operations

 

(379

)

1,100

 

2,335

 

Numerator for diluted earnings (loss) per common share from continuing operations available to common shareholders

 

76,389

 

79,412

 

(135,613

)

Loss from discontinued operations, net of taxes

 

(411

)

(577

)

(81

)

Numerator for diluted earnings (loss) available to common shareholders

 

$

75,978

 

$

78,835

 

$

(135,694

)

 

 

 

 

 

 

 

 

Shares (Denominator)

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

80,217

 

80,245

 

79,981

 

Dilutive effect of stock options and restricted stock awards

 

61

 

37

 

 

Dilutive effect of 4.875% Notes

 

254

 

254

 

 

Dilutive effect of 6.0% Notes

 

 

3,070

 

 

Weighted-average common and common equivalent shares outstanding

 

80,532

 

83,606

 

79,981

 

 

Potentially dilutive securities representing 1.1 million, 1.4 million and 9.9 million shares of common stock for the years ended December 31, 2011, 2010 and 2009, respectively, were excluded from the computation of diluted earnings (loss) per common share for these periods because their effect would have been antidilutive.  The decrease in 2011 compared to 2010 of potentially dilutive securities is primarily related to the exercise of some of our stock-settled appreciation rights in 2011.  The decrease in 2010 compared to 2009 of potentially dilutive securities is primarily related to the partial redemption of our 3.0% Notes and the inclusion of the 4.875% Notes and 6.0% Notes in dilutive earnings (loss) per share.  The net income (loss) per share amounts are the same for Class A and Class B Common Stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.