Earnings (Loss) per Share:

12 Months Ended

Dec. 31, 2012

Earnings (Loss) per Share:

Earnings (Loss) per Share:

14. Earnings (Loss) per Share:

        In calculating earnings (loss) per common share, we allocate our earnings (loss) between common shareholders and holders of unvested share-based payment awards (i.e. restricted stock) that contain rights to nonforfeitable dividends. This earnings allocation is referred to as the two-class method.

        Under the two-class method, earnings (loss) are allocated between common stock and participating securities (restricted stock) as if all of the net earnings (loss) for the period had been distributed. Basic earnings (loss) per common share excludes dilution and is calculated by dividing net earnings (loss) allocable to common shares by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share is calculated by dividing net earnings (loss) allocable to common shares by the weighted average number of common shares outstanding during the period, as adjusted for the potential dilutive effect of non-participating share-based awards such as stock options and RSUs. The following table reconciles earnings (loss) per common share for 2012, 2011 and 2010 (in thousands, except per share data):

	2012			2011			2010
Income (loss) from continuing operations	$	(238,755	)	$	26,537		$	45,302
Less net income (loss) allocated to participating unvested share awards		—			(79	)		(338	)
Income (loss) from continuing operations attributable to common shares	$	(238,755	)	$	26,458		$	44,964
Weighted average common shares outstanding—basic		27,477			27,516			27,226
Dilutive stock options, RSUs and warrants		—			244			344
Weighted average common shares outstanding—dilutive		27,477			27,760			27,570
Basic net income (loss) per common share:
Continuing	$	(8.69	)	$	0.96		$	1.65
Discontinued		(0.04	)		(0.07	)		(0.13	)
Total	$	(8.73	)	$	0.89		$	1.52
Diluted net income (loss) per common share:
Continuing	$	(8.69	)	$	0.95		$	1.63
Discontinued		(0.04	)		(0.07	)		(0.13	)
Total	$	(8.73	)	$	0.88		$	1.50
Antidilutive securities not included:
Stock options, warrants and RSUs		2,716			1,818			556