Attached files
EXHIBIT 11 – Computation of Per Share Earnings (Loss)
(In thousands, except per share data)
| Post-Merger | Pre-Merger | |||||||||||||||
| Year Ended December 31, | Period from July 31 through December 31, |
Period from July 30, |
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| 2010 | 2009 | 2008 | 2008 | |||||||||||||
| Basic and diluted numerator: |
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| Net income (loss) attributable to the Company – Common Shares |
$ | (87,523 | ) | $ | (868,189 | ) | $ | (3,018,637 | ) | $ | 167,554 | |||||
| Less: Participating securities dividends |
5,916 | 6,799 | — | — | ||||||||||||
| Income (loss) attributable to the Company – Unvested Shares |
— | — | — | 214 | ||||||||||||
| Income (loss) attributable to the Company per common share – basic and diluted |
$ | (93,439 | ) | $ | (874,988 | ) | $ | (3,018,637 | ) | $ | 167,340 | |||||
| Denominator: |
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| Weighted average common shares – basic |
355,568 | 355,377 | 355,308 | 355,178 | ||||||||||||
| Effect of dilutive securities: |
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| Stock options and restricted stock awards(1) |
— | — | — | 563 | ||||||||||||
| Weighted average common shares – diluted |
355,568 | 355,377 | 355,308 | 355,741 | ||||||||||||
| Net income (loss) per basic common share |
$ | (0.26 | ) | $ | (2.46 | ) | $ | (8.50 | ) | $ | 0.47 | |||||
| Net income (loss) per diluted common share |
$ | (0.26 | ) | $ | (2.46 | ) | $ | (8.50 | ) | $ | 0.47 | |||||
| (1) | 5.2 million, 6.7 million, 7.7 million and 6.3 million options were outstanding at December 31, 2010, 2009 and 2008 (post-merger) and July 30, 2008 (pre-merger), respectively, that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive as the respective options’ strive price was greater than the current market price of the shares. |