Exhibit 11
EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE
Post-Merger | Pre-Merger | ||||||||
(In thousands of dollars, except per share data) | Period from July 31 through | Period from January 1 through July 30, | Nine Months Ended September 30, | ||||||
2008 | 2008 | 2007 | |||||||
Numerator: | |||||||||
Net income | $ | 10,814 | $ | 167,554 | $ | 139,397 | |||
Effect of dilutive securities – none | — | — | — | ||||||
Numerator for net income per common share – diluted | $ | 10,814 | $ | 167,554 | $ | 139,397 | |||
Denominator: | |||||||||
Weighted average common shares | 355,294 | 355,178 | 354,797 | ||||||
Effect of dilutive securities | 361 | 563 | 957 | ||||||
Denominator for net income per common share – diluted | 355,655 | 355,741 | 355,754 | ||||||
Net income per common share: | |||||||||
Basic | $ | .03 | $ | .47 | $ | .39 | |||
Diluted | $ | .03 | $ | .47 | $ | .39 | |||
Post-Merger | Pre-Merger | |||||||||
(In thousands of dollars, except per share data) | Period from July 31 through | Period from July 1 through July 30, | Three Months Ended September 30, | |||||||
2008 | 2008 | 2007 | ||||||||
Numerator: | ||||||||||
Net income | $ | 10,814 | $ | (1,699 | ) | $ | 54,716 | |||
Effect of dilutive securities – none | — | — | — | |||||||
Numerator for net income per common share – diluted | $ | 10,814 | $ | (1,699 | ) | $ | 54,716 | |||
Denominator: | ||||||||||
Weighted average common shares | 355,294 | 355,294 | 354,909 | |||||||
Effect of dilutive securities | 361 | 274 | 893 | |||||||
Denominator for net income per common share – diluted | 355,655 | 355,568 | 355,802 | |||||||
Net income per common share: | ||||||||||
Basic | $ | .03 | $ | (.00 | ) | $ | .15 | |||
Diluted | $ | .03 | $ | (.00 | ) | $ | .15 | |||