Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Notes)

v2.4.0.6
Earnings Per Share (Notes)
 12 Months Ended
Dec. 31, 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 years ended December 31, 2012, 2011 and 2010:
 
Year Ended December 31,
(in thousands, except share data)
2012
 
2011
 
2010
Numerator:
 
 
 
 
 
Net income from continuing operations
$
287,416

 
$
127,521

 
$
35,755

Income (loss) from discontinued operations
4,490

 
(89
)
 
—

Net income attributable to common stockholders
$
291,906

 
$
127,432

 
$
35,755

Denominator:
 
 
 
 
 
Weighted average common shares outstanding
241,975,433

 
98,771,248

 
22,340,975

Weighted average restricted stock shares
39,318

 
55,620

 
40,708

Basic weighted average shares outstanding
242,014,751

 
98,826,868

 
22,381,683

Dilutive weighted average warrants
417,405

 
—

 
—

Diluted weighted average shares outstanding
242,432,156

 
98,826,868

 
22,381,683

Basic Earnings (Loss) Per Share:
 
 
 
 
 
Continuing operations
$
1.19

 
$
1.29

 
$
1.60

Discontinued operations
0.02

 
—

 
—

Net income
$
1.21

 
$
1.29

 
$
1.60

Diluted Earnings (Loss) Per Share:
 
 
 
 
 
Continuing operations
$
1.18

 
$
1.29

 
$
1.60

Discontinued operations
0.02

 
—

 
—

Net income
$
1.20

 
$
1.29

 
$
1.60



During the year ended December 31, 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 years ended December 31, 2011 and 2010, 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.