Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Notes)

v2.4.0.8
Earnings Per Share (Notes)
 6 Months Ended
Jun. 30, 2013
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 six months ended June 30, 2013 and 2012:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands, except share data)
2013
 
2012
 
2013
 
2012
Numerator:
 
 
 
 
 
 
 
Net income from continuing operations
$
387,621

 
$
24,185

 
$
529,960

 
$
76,031

Income (loss) from discontinued operations
1,016

 
(181
)
 
2,393

 
(227
)
Net income attributable to common stockholders
$
388,637

 
$
24,004

 
$
532,353

 
$
75,804

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
365,199,790

 
214,764,586

 
335,395,275

 
200,784,364

Weighted average restricted stock shares
389,510

 
45,993

 
208,422

 
48,720

Basic weighted average shares outstanding
365,589,300

 
214,810,579

 
335,603,697

 
200,833,084

Dilutive weighted average warrants
467,903

 
—

 
1,073,347

 
—

Diluted weighted average shares outstanding
366,057,203

 
214,810,579

 
336,677,044

 
200,833,084

Basic Earnings Per Share:
 
 
 
 
 
 
 
Continuing operations
$
1.06

 
$
0.11

 
$
1.58

 
$
0.38

Discontinued operations
—

 
—

 
0.01

 
—

Net income
$
1.06

 
$
0.11

 
$
1.59

 
$
0.38

Diluted Earnings Per Share:
 
 
 
 
 
 
 
Continuing operations
$
1.06

 
$
0.11

 
$
1.57

 
$
0.38

Discontinued operations
—

 
—

 
0.01

 
—

Net income
$
1.06

 
$
0.11

 
$
1.58

 
$
0.38



During the three and six months ended June 30, 2013, 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. For the three and six months ended June 30, 2012, 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 exercise price of the warrants and the warrants would be anti-dilutive.