Attached files
Exhibit 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(Amounts in thousands except, per share data)
| For the Three Months ended September 30, | ||||||||
| 2009 | 2008 | |||||||
| Numerator: |
||||||||
| Income from continuing operations |
$ | 12,639 | $ | 15,319 | ||||
| Income from discontinued operations |
7,299 | 28,209 | ||||||
| Redeemable noncontrolling interest in income |
(401 | ) | (580 | ) | ||||
| Preferred stock dividends |
(2,953 | ) | (2,953 | ) | ||||
| Net income available to common shareholders |
$ | 16,584 | $ | 39,995 | ||||
| Allocation to participating securities – Basic EPS (1) |
(127 | ) | (390 | ) | ||||
| Allocation to participating securities – Diluted EPS (1) |
(127 | ) | (389 | ) | ||||
| Denominator: |
||||||||
| Denominator for basic earnings per share – weighted average shares |
53,575 | 51,060 | ||||||
| Dilutive effect of stock based awards |
1 | 504 | ||||||
| Denominator for diluted earnings per share adjusted for weighted average shares and assumed conversion |
53,576 | 51,564 | ||||||
| Basic earnings per share from continuing operations |
$ | 0.17 | $ | 0.23 | ||||
| Basic earnings per share from discontinued operations |
0.14 | 0.55 | ||||||
| Basic earnings per share |
$ | 0.31 | $ | 0.78 | ||||
| Diluted earnings per share from continuing operations |
$ | 0.17 | $ | 0.22 | ||||
| Diluted earnings per share from discontinued operations |
0.14 | 0.55 | ||||||
| Diluted earnings per share |
$ | 0.31 | $ | 0.77 | ||||
| (1) | Adjustment to the numerators for diluted net income per share calculations when applying the two class method of calculating earnings per share. |
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(Amounts in thousands except, per share data)
| For the Nine Months ended September 30, | ||||||||
| 2009 | 2008 | |||||||
| Numerator: |
||||||||
| Income from continuing operations |
$ | 44,281 | $ | 42,182 | ||||
| Income from discontinued operations |
23,870 | 35,498 | ||||||
| Redeemable noncontrolling interest in income |
(1,491 | ) | (1,741 | ) | ||||
| Preferred stock dividends |
(8,859 | ) | (8,859 | ) | ||||
| Net income available to common shareholders |
$ | 57,801 | $ | 67,080 | ||||
| Allocation to participating securities – Basic EPS (1) |
(450 | ) | (633 | ) | ||||
| Allocation to participating securities – Diluted EPS (1) |
(450 | ) | (635 | ) | ||||
| Denominator: |
||||||||
| Denominator for basic earnings per share – weighted average shares |
52,205 | 51,025 | ||||||
| Dilutive effect of stock based awards |
1 | 476 | ||||||
| Denominator for diluted earnings per share adjusted for weighted average shares and assumed conversion |
52,206 | 51,501 | ||||||
| Basic earnings per share from continuing operations |
$ | 0.64 | $ | 0.61 | ||||
| Basic earnings per share from discontinued operations |
0.46 | 0.69 | ||||||
| Basic earnings per share |
$ | 1.10 | $ | 1.30 | ||||
| Diluted earnings per share from continuing operations |
$ | 0.64 | $ | 0.60 | ||||
| Diluted earnings per share from discontinued operations |
0.46 | 0.69 | ||||||
| Diluted earnings per share |
$ | 1.10 | $ | 1.29 | ||||
| (1) | Adjustment to the numerators for diluted net income per share calculations when applying the two class method of calculating earnings per share. |