Quarterly report pursuant to Section 13 or 15(d)

Per Share Information

v3.2.0.727
Per Share Information
6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Per Share Information
7. 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, 2015 and 2014 are illustrated below (in thousands):

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2015      2014      2015      2014  

Amounts attributable to common stock:

  

Net income from continuing operations

   $ 32,007       $ 73,453       $ 79,696       $ 120,895   

Net income from discontinued operations

     14,102         7,629         19,897         14,595   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income attributable to common stock

   $ 46,109       $ 81,082       $ 99,593       $ 135,490   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average shares:

  

Weighted average shares outstanding for basic earnings per share

     213,047         219,612         214,257         219,345   

Effect of dilutive stock options

     12         30         12         30   
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average shares outstanding for diluted earnings per share

     213,059         219,642         214,269         219,375   
  

 

 

    

 

 

    

 

 

    

 

 

 

For purposes of calculating diluted earnings per share, there were no adjustments required to derive Quanta’s net income attributable to common stock. Outstanding exchangeable shares that were issued pursuant to certain of Quanta’s historical acquisitions (as further discussed in Note 9), 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, 2015 and 2014 for the portion of the respective periods that they were outstanding.