| Earnings per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended September 30, |
|
For the Nine Months Ended September 30, |
(in thousands, except per share data) |
2012 |
|
2011 |
|
2012 |
|
2011 |
Net income |
$ |
74,514 |
|
|
$ |
104,185 |
|
|
$ |
3,316,457 |
|
|
$ |
355,624 |
|
Less: |
|
|
|
|
|
|
|
Allocation of income to Series B Preferred Stock |
(27,825 |
) |
|
(42,550 |
) |
|
(1,309,647 |
) |
|
(145,355 |
) |
Net income available to common stockholders for basic net income per common share |
46,689 |
|
|
61,635 |
|
|
2,006,810 |
|
|
210,269 |
|
Add back: |
|
|
|
|
|
|
|
Allocation of income to Series B Preferred Stock |
27,825 |
|
|
42,550 |
|
|
1,309,647 |
|
|
145,355 |
|
Effect of interest on assumed conversions of convertible debt |
— |
|
|
— |
|
|
28,875 |
|
|
— |
|
Net income available to common stockholders for diluted net income per common share |
$ |
74,514 |
|
|
$ |
104,185 |
|
|
$ |
3,345,332 |
|
|
$ |
355,624 |
|
Weighted average common shares outstanding for basic net income per common share |
4,034,122 |
|
|
3,747,381 |
|
|
3,870,031 |
|
|
3,742,309 |
|
Weighted average impact of assumed Series B Preferred Stock conversion |
2,404,143 |
|
|
2,586,977 |
|
|
2,525,588 |
|
|
2,586,977 |
|
Weighted average impact of assumed convertible debt |
— |
|
|
— |
|
|
293,333 |
|
|
— |
|
Weighted average impact of other dilutive equity instruments |
139,389 |
|
|
173,012 |
|
|
159,278 |
|
|
171,533 |
|
Total shares for diluted net income per common share |
6,577,654 |
|
|
6,507,370 |
|
|
6,848,230 |
|
|
6,500,819 |
|
Net income per common share |
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.01 |
|
|
$ |
0.02 |
|
|
$ |
0.52 |
|
|
$ |
0.06 |
|
Diluted |
$ |
0.01 |
|
|
$ |
0.02 |
|
|
$ |
0.49 |
|
|
$ |
0.05 |
|
|