Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Notes)

v2.4.0.6
Earnings Per Share (Notes)
 9 Months Ended
Sep. 30, 2012
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 three and nine months ended September 30, 2012 and 2011:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(in thousands, except share data)
2012
 
2011
 
2012
 
2011
Numerator:
 
 
 
 
 
 
 
Net income attributable to common stockholders for basic and diluted earnings per share
$
26,802

 
$
54,609

 
$
102,606

 
$
76,002

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
269,972,503

 
130,548,732

 
224,015,418

 
84,695,559

Weighted average restricted stock shares
32,709

 
58,834

 
43,344

 
56,295

Basic weighted average shares outstanding
270,005,212

 
130,607,566

 
224,058,762

 
84,751,854

Dilutive weighted average warrants
932,748

 
—

 
310,916

 
—

Diluted weighted average shares outstanding
270,937,960

 
130,607,566

 
224,369,678

 
84,751,854

Basic Earnings Per Share:
$
0.10

 
$
0.42

 
$
0.46

 
$
0.90

Diluted Earnings Per Share:
$
0.10

 
$
0.42

 
$
0.46

 
$
0.90



During the three and nine months ended September 30, 2012, the weighted average market value per share of the Company's common stock was above the strike price of the warrants making the warrants dilutive. For the three and nine months ended September 30, 2011, the Company assumed that no warrants would be exercised as the weighted average market value per share of the Company's common stock was below the strike price of the warrants and the warrants would be anti-dilutive.