Quarterly report pursuant to Section 13 or 15(d)

Per Share Information

v2.4.0.8
Per Share Information
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Per Share Information
6. 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, 2014 and 2013 are illustrated below (in thousands):

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2014      2013      2014      2013  

Amounts attributable to common stock:

           

Net income attributable to common stock

   $ 81,082       $ 70,237       $ 135,490       $ 142,318   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average shares:

           

Weighted average shares outstanding for basic earnings per share

     219,612         214,314         219,345         213,833   

Effect of dilutive stock options

     30         54         30         53   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average shares outstanding for diluted earnings per share

     219,642         214,368         219,375         213,886   
  

 

 

    

 

 

    

 

 

    

 

 

 

For purposes of calculating diluted earnings per share, there were no adjustments required to derive Quanta’s net income attributable to common stock. The outstanding exchangeable shares of a Canadian subsidiary of Quanta that were issued pursuant to the acquisition of Valard Construction LP and certain of its affiliated entities (Valard) on October 25, 2010, which are exchangeable on a one-for-one basis with shares of Quanta common stock, have been included in weighted average shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2014 and 2013. Additionally, the outstanding exchangeable shares of a Canadian subsidiary of Quanta that were issued pursuant to the acquisition of Northstar Energy Services Inc. and Northstar Transport Services Inc. (collectively, Northstar) on January 14, 2014, which are also exchangeable on a one-for-one basis with shares of Quanta common stock, have been included in weighted average shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2014, weighted for the portion of the period they were outstanding.