Annual report pursuant to Section 13 and 15(d)

Earnings per Share (Tables)

v2.4.0.8
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings per Share
Common stock equivalents of approximately 365,177,000, 147,125,000 and 419,752,000 for the years ended December 31, 2013, 2012 and 2011, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.
 
For the Years Ended December 31,
(in thousands, except per share data)
2013
 
2012
 
2011
Numerator:
 
 
 
 
 
Net income
$
377,215

 
$
3,472,702

  
$
426,961

Less:
 
 
 
 
 
Allocation of undistributed income to Series B Preferred Stock
(3,825
)
 
(1,084,895
)
 
(174,449
)
Dividends paid to preferred stockholders
—

 
(64,675
)
 
—

Net income available to common stockholders for basic net income per common share
$
373,390

 
$
2,323,132

 
$
252,512

Add back:
 
 


 


Allocation of undistributed income to Series B Preferred Stock
3,825

 
1,084,895

 
174,449

Dividends paid to preferred stockholders
—

 
64,675

 
—

Effect of interest on assumed conversions of convertible debt
—

 
38,500

 
—

Net income available to common stockholders for diluted net income per common share
$
377,215

 
$
3,511,202

 
$
426,961

Denominator:
 
 


 


Weighted average common shares outstanding for basic net income per common share
6,227,646

 
4,209,073

  
3,744,606

Weighted average impact of assumed Series B Preferred Stock conversion
63,789

 
2,215,900

 
2,586,977

Weighted average impact of assumed convertible debt
—

 
298,725

 
—

Weighted average impact of other dilutive equity instruments
93,356

 
150,088

  
169,239

Weighted average shares for diluted net income per common share
6,384,791

 
6,873,786

  
6,500,822

Net income per common share:
 
 
 
 
 
Basic
$
0.06

 
$
0.55

  
$
0.07

Diluted
$
0.06

 
$
0.51

  
$
0.07