Per Share Information
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Jun. 30, 2011
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Per Share Information [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PER SHARE INFORMATION |
Basic earnings per share is computed using the weighted average
number of common shares outstanding during the period, and
diluted earnings per share is computed using the weighted
average number of common shares outstanding during the period
adjusted for all potentially dilutive common stock equivalents,
except in cases where
the effect of the common stock equivalent would be
antidilutive.
The amounts used to compute the
basic and diluted earnings per share for the three and six
months ended June 30, 2011 and 2010 are illustrated below
(in thousands):
For the three and six months ended June 30, 2011 and 2010,
a nominal amount of stock options were excluded from the
computation of diluted earnings per share because the exercise
prices of these common stock equivalents were greater than the
average market price of Quanta’s common stock. The
3.9 million exchangeable shares of a Canadian subsidiary of
Quanta that were issued pursuant to the acquisition of Valard on
October 25, 2010, which are exchangeable on a
one-for-one
basis with Quanta common shares, are included in weighted
average shares outstanding for basic and diluted earnings per
share for the three and six months ended June 30, 2011.
Shares placed in escrow related to the acquisition of Price
Gregory are included in the computation of diluted earnings per
share for all periods based on the portion of the period they
were in escrow. These shares were released from escrow on
April 4, 2011. For the three and six months ended
June 30, 2010, the effect of assuming conversion of
Quanta’s 3.75% convertible subordinated notes due 2026
(3.75% Notes) would have been antidilutive and therefore
the shares issuable upon conversion were excluded from the
calculation of diluted earnings per share. The 3.75% Notes
were not outstanding after May 14, 2010 and therefore had
no impact on diluted shares during the three and six months
ended June 30, 2011.
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