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Earnings Per Share
9 Months Ended
Sep. 30, 2011
Earnings (Loss) Per Share [Abstract] 
Earnings Per Share [Text Block]
Earnings (Loss) Per Share
The computations of basic and diluted net income (loss) per share attributable to TER common stockholders for the periods presented are as follows:
 
  
Reorganized Company
 
 
 
 
 
Period From
 
Three Months
 
Nine Months
 
July 16, 2010
 
Ended
 
Ended
 
Through
 
September 30,
 
September 30,
 
September 30,
 
2011
 
2011
 
2010
Numerator for basic and diluted earnings per share:
 
 
 
 
 
Income (loss) from continuing operations
$
1,879

 
$
(14,110
)
 
$
(7,308
)
Loss from discontinued operations
(114
)
 
(6,661
)
 
(2,345
)
Net income (loss)
$
1,765

 
$
(20,771
)
 
$
(9,653
)
 
 
 
 
 
 
Denominator:
 
 
 
 
 
Denominator for basic earnings per share - Weighted average shares outstanding
10,767,858

 
10,767,858

 
10,714,286

Effect of dilutive securities:
 
 
 
 
 
Restricted stock awards
107,144

 
—

 
—

Denominator for diluted earnings per share - Weighted average shares outstanding
10,875,002

 
10,767,858

 
10,714,286

 
 
 
 
 
 
Basic net income (loss) per share:
 
 
 
 
 
Income (loss) from continuing operations
$
0.17

 
$
(1.31
)
 
$
(0.68
)
Loss from discontinued operations
(0.01
)
 
(0.62
)
 
(0.22
)
Basic net income (loss) per share
$
0.16

 
$
(1.93
)
 
$
(0.90
)
 
 
 
 
 
 
Diluted net income (loss) per share:
 
 
 
 
 
Income (loss) from continuing operations
$
0.17

 
$
(1.31
)
 
$
(0.68
)
Loss from discontinued operations
(0.01
)
 
(0.62
)
 
(0.22
)
Diluted net income (loss) per share
$
0.16

 
$
(1.93
)
 
$
(0.90
)

 Potentially dilutive common shares excluded from the computation of diluted net income (loss) per share due to anti-dilution for the periods presented above are as follows:
  
Reorganized Company
 
 
 
 
 
Period From
 
Three Months
 
Nine Months
 
July 16, 2010
 
Ended
 
Ended
 
Through
 
September 30,
 
September 30,
 
September 30,
 
2011
 
2011
 
2010
Potentially dilutive common shares:
 
 
 
 
 
Restricted stock awards
160,716

 
267,860

 
—

Warrants
535,714

 
535,714

 
535,714

Total
696,430

 
803,574

 
535,714


On the Consummation Date pursuant to the Plan of Reorganization, warrants were issued to Donald J. Trump ("Mr. Trump") to purchase up to 535,714 shares of the Company's common stock at an exercise price of $123.74 per share, subject to certain anti-dilution provisions set forth therein.

 
Predecessor Company
 
Period From
 
Period From
 
July 1, 2010
 
January 1, 2010
 
Through
 
Through
 
July 15,
 
July 15,
 
2010
 
2010
Numerator for basic earnings (loss) per share:
 
 
 
Loss from continuing operations
$
742,671

 
$
708,293

Loss from discontinued operations
11,695

 
5,735

Net loss attributable to TER common shareholders
$
754,366

 
$
714,028

 
 
 
 
Numerator for diluted earnings (loss) per share:
 
 
 
Income from continuing operations
742,671

 
708,293

Addback: Minority interest to reflect dilution of exchangeable limited partnership interest
(9,990
)
 
(20,551
)
Income from continuing operations for diluted earnings per share calculation
732,681

 
687,742

 
 
 
 
Income from discontinued operations
11,695

 
5,735

Addback: Minority interest to reflect dilution of exchangeable limited partnership interest
(1,107
)
 
(2,938
)
Income from discontinued operations for diluted earnings per share calculation
10,588

 
2,797

 
 
 
 
Denominator:
 
 
 
Denominator for basic earnings per share - Weighted average shares outstanding
31,270,345

 
31,270,345

Effect of dilutive securities:
 
 
 
  Exchangeable limited partnership interests
9,377,484

 
9,377,484

Denominator for diluted earnings per share - Adjusted weighted average shares outstanding
40,647,829

 
40,647,829

 
 
 
 
Basic net loss per share:
 
 
 
Loss from continuing operations
$
23.75

 
$
22.65

Loss from discontinued operations
0.37

 
0.18

Net loss attributable to TER common shareholders
$
24.12

 
$
22.83

 
 
 
 
Diluted net loss per share:
 
 
 
Loss from continuing operations
$
18.03

 
$
16.92

Loss from discontinued operations
0.26

 
0.07

Net loss attributable to TER common shareholders
$
18.29

 
$
16.99

On the Consummation Date, pursuant to the Plan of Reorganization, new common stock was issued by TER and all previously outstanding common stock and other equity interests in TER and all limited partnership interests in TER Holdings were canceled.
Potentially dilutive common shares excluded from the Predecessor Company’s computation of diluted net loss per share due to anti-dilution included ten-year warrants previously held by Mr. Trump.