EXHIBIT 11 — Computation of Per Share Earnings (Loss)
Post-merger period | Pre-merger period | |||||||||||||||
ended | ended | |||||||||||||||
December 31, | July 30, | Year ended December 31, | ||||||||||||||
(In thousands, except per share data) | 2008 | 2008 | 2007 | 2006 | ||||||||||||
NUMERATOR: | ||||||||||||||||
Income (loss) before discontinued operations | $ | (5,040,153 | ) | $ | 396,289 | $ | 792,674 | $ | 638,839 | |||||||
Discontinued operations, net | (1,845 | ) | 640,236 | 145,833 | 52,678 | |||||||||||
Net income | (5,041,998 | ) | 1,036,525 | 938,507 | 691,517 | |||||||||||
Effect of dilutive securities: | ||||||||||||||||
None | — | — | — | — | ||||||||||||
Numerator for net income (loss) per common share — diluted | $ | (5,041,998 | ) | $ | 1,036,525 | $ | 938,507 | $ | 691,517 | |||||||
DENOMINATOR: | ||||||||||||||||
Weighted average common shares | 81,242 | 495,044 | 494,347 | 500,786 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Stock options and common stock warrants | — | 1,475 | 1,437 | 853 | ||||||||||||
Denominator for net income (loss) per common share — diluted | 81,242 | 496,519 | 495,784 | 501,639 | ||||||||||||
Net income (loss) per common share: | ||||||||||||||||
Income (loss) before discontinued operations — Basic | $ | (62.04 | ) | $ | .80 | $ | 1.60 | $ | 1.27 | |||||||
Discontinued operations — Basic | (0.02 | ) | 1.29 | .30 | .11 | |||||||||||
Net income (loss) — Basic | $ | (62.06 | ) | $ | 2.09 | $ | 1.90 | $ | 1.38 | |||||||
Income (loss) before discontinued operations — Diluted | $ | (62.04 | ) | $ | .80 | $ | 1.60 | $ | 1.27 | |||||||
Discontinued operations — Diluted | (0.02 | ) | 1.29 | .29 | .11 | |||||||||||
Net income (loss) — Diluted | $ | (62.06 | ) | $ | 2.09 | $ | 1.89 | $ | 1.38 | |||||||