Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Notes)

v2.4.1.9
Earnings Per Share (Notes)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share, or EPS, for the years ended December 31, 2014, 2013 and 2012:
 
Year Ended December 31,
(in thousands, except share data)
2014
 
2013
 
2012
Numerator:
 
 
 
 
 
Net income from continuing operations
$
167,139

 
$
575,040

 
$
287,416

Income (loss) from discontinued operations
—

 
3,999

 
4,490

Net income
$
167,139

 
$
579,039

 
$
291,906

Denominator:
 
 
 
 
 
Weighted average common shares outstanding
364,181,059

 
349,741,902

 
241,975,433

Weighted average restricted stock shares
1,830,796

 
619,925

 
39,318

Basic weighted average shares outstanding
366,011,855

 
350,361,827

 
242,014,751

Dilutive weighted average warrants
—

 
630,560

 
417,405

Diluted weighted average shares outstanding
366,011,855

 
350,992,387

 
242,432,156

Basic Earnings (Loss) Per Share:
 
 
 
 
 
Continuing operations
$
0.46

 
$
1.64

 
$
1.19

Discontinued operations
—

 
0.01

 
0.02

Net income
$
0.46

 
$
1.65

 
$
1.21

Diluted Earnings (Loss) Per Share:
 
 
 
 
 
Continuing operations
$
0.46

 
$
1.64

 
$
1.18

Discontinued operations
—

 
0.01

 
0.02

Net income
$
0.46

 
$
1.65

 
$
1.20



No warrants were outstanding during the year ended December 31, 2014; however, during the year ended December 31, 2013, the weighted average market value per share of the Company’s common stock, after factoring in the number of shares of the Company’s common stock issuable for each warrant of 1.0727 shares, was above the exercise price of the warrants, making the warrants dilutive. During the year ended December 31, 2012, the weighted average market value per share of the Company’s common stock was above the exercise price of the warrants, making the warrants dilutive.