| Basic and diluted earnings loss per share |
The calculation of basic and diluted (loss) earnings per share for each of the three years ended December 31 was as follows:
| |
|
|
Year ended December 31, |
| (dollar amounts in thousands, except per share amounts) |
|
2011 |
|
|
2010 |
|
|
2009 |
| |
|
|
|
|
|
|
|
|
|
| Basic earnings (loss) per common share: |
|
|
|
|
|
|
|
|
| Net income (loss) |
$ |
542,613 |
|
$ |
312,347 |
|
$ |
(3,094,179) |
| Preferred stock dividends, deemed dividends and accretion of discount |
|
(30,813) |
|
|
(172,032) |
|
|
(174,756) |
| |
Net income (loss) available to common shareholders |
$ |
511,800 |
|
$ |
140,315 |
|
$ |
(3,268,935) |
| Average common shares issued and outstanding |
|
863,691 |
|
|
726,934 |
|
|
532,802 |
| Basic earnings (loss) per common share |
$ |
0.59 |
|
$ |
0.19 |
|
$ |
(6.14) |
| |
|
|
|
|
|
|
|
|
|
| Diluted earnings (loss) per common share |
|
|
|
|
|
|
|
|
| Net income (loss) available to common shareholders |
$ |
511,800 |
|
$ |
140,315 |
|
$ |
(3,268,935) |
| Effect of assumed preferred stock conversion |
|
--- |
|
|
--- |
|
|
--- |
| |
Net income (loss) applicable to diluted earnings per share |
$ |
511,800 |
|
$ |
140,315 |
|
$ |
(3,268,935) |
| Average common shares issued and outstanding |
|
863,691 |
|
|
726,934 |
|
|
532,802 |
| Dilutive potential common shares: |
|
|
|
|
|
|
|
|
| |
Stock options and restricted stock units and awards |
|
2,916 |
|
|
1,722 |
|
|
--- |
| |
Shares held in deferred compensation plans |
|
1,017 |
|
|
876 |
|
|
--- |
| |
Conversion of preferred stock |
|
--- |
|
|
--- |
|
|
--- |
| Dilutive potential common shares: |
|
3,933 |
|
|
2,598 |
|
|
--- |
| |
Total diluted average common shares issued and outstanding |
|
867,624 |
|
|
729,532 |
|
|
532,802 |
| Diluted earnings (loss) per common share |
$ |
0.59 |
|
$ |
0.19 |
|
$ |
(6.14) |
|