EXHIBIT 11 – COMPUTATION OF LOSS PER SHARE

(In thousands, except per share data)

Year Ended December 31,

2015

2014

2013

NUMERATOR:

Net loss attributable to the Company – common shares

$

 (754,621) 

$

 (793,761) 

$

 (606,883) 

Less: Participating securities dividends

 -  

 -  

 2,566  

Net loss attributable to the Company per common share – basic

   and diluted

$

 (754,621) 

$

 (793,761) 

$

 (609,449) 

DENOMINATOR:

Weighted average common shares outstanding – basic

 84,278  

 83,941  

 83,364  

Effect of dilutive securities:

Stock options and restricted stock (1)

 -  

 -  

 -  

Weighted average common shares outstanding – diluted

 84,278  

 83,941  

 83,364  

Net loss attributable to the Company per common share:

Basic

$

 (8.95) 

$

 (9.46) 

$

 (7.31) 

Diluted

$

 (8.95) 

$

 (9.46) 

$

 (7.31) 

⁽¹⁾

7.2 million, 6.8 million, and 6.4 million stock options were outstanding at December 31, 2015, 2014 and 2013, respectively, were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive.