Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.2.0.727
Earnings per Share (Tables)
6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings per Share

Common stock equivalents of 113,067 and 116,655 for the three months ended June 30, 2015 and 2014, respectively, and 114,443 and 386,276 for the six months ended June 30, 2015 and 2014, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common stockholders for basic net

   income per common share

 

$

102,849

 

 

$

119,961

 

 

$

208,541

 

 

$

213,949

 

Add back:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of interest on assumed conversions of convertible

   debt

 

 

 

 

 

5,363

 

 

 

 

 

 

 

Net income available to common stockholders for diluted net

   income per common share

 

$

102,849

 

 

$

125,324

 

 

$

208,541

 

 

$

213,949

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic net

   income per common share

 

 

5,443,590

 

 

 

5,865,032

 

 

 

5,506,818

 

 

 

5,979,273

 

Weighted average impact of assumed convertible

   debt (a)

 

 

 

 

272,856

 

 

 

 

 

Weighted average impact of dilutive equity instruments

 

 

64,011

 

 

 

72,190

 

 

 

63,627

 

 

 

75,498

 

Weighted average shares for diluted net income per common

   share

 

 

5,507,601

 

 

 

6,210,078

 

 

 

5,570,445

 

 

 

6,054,771

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.02

 

 

$

0.02

 

 

$

0.04

 

 

$

0.04

 

Diluted

 

$

0.02

 

 

$

0.02

 

 

$

0.04

 

 

$

0.04

 

(a)

During the six months ended June 30, 2014, 272,856 shares of common stock were reserved for conversion in connection with the 7% Exchangeable Senior Subordinated Notes due 2014 (the “Exchangeable Notes”) and were considered to be anti-dilutive in our calculation of diluted net income per share.  The Exchangeable Notes were fully converted into shares of our common stock as of December 1, 2014.