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, 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 three and six months ended June 30, 2014 and 2013:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands, except share data)
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Net income from continuing operations
$
39,657

 
$
387,621

 
$
10,512

 
$
529,960

Income from discontinued operations
—

 
1,016

 
—

 
2,393

Net income
$
39,657

 
$
388,637

 
$
10,512

 
$
532,353

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
364,078,669

 
365,199,790

 
363,996,652

 
335,395,275

Weighted average restricted stock shares
1,999,455

 
389,510

 
1,849,643

 
208,422

Basic weighted average shares outstanding
366,078,124

 
365,589,300

 
365,846,295

 
335,603,697

Dilutive weighted average warrants
—

 
467,903

 
—

 
1,073,347

Diluted weighted average shares outstanding
366,078,124

 
366,057,203

 
365,846,295

 
336,677,044

Basic Earnings Per Share:
 
 
 
 
 
 
 
Continuing operations
$
0.11

 
$
1.06

 
$
0.03

 
$
1.58

Discontinued operations
—

 
—

 
—

 
0.01

Net income
$
0.11

 
$
1.06

 
$
0.03

 
$
1.59

Diluted Earnings Per Share:
 
 
 
 
 
 
 
Continuing operations
$
0.11

 
$
1.06

 
$
0.03

 
$
1.57

Discontinued operations
—

 
—

 
—

 
0.01

Net income
$
0.11

 
$
1.06

 
$
0.03

 
$
1.58



No warrants were outstanding during the three and six months ended June 30, 2014; however, 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.