Quarterly report pursuant to Section 13 or 15(d)

Per Share Information

v2.4.0.6
Per Share Information
6 Months Ended
Jun. 30, 2012
Per Share Information [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, 2012 and 2011 are illustrated below (in thousands):

 

                                 
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2012     2011     2012     2011  

NET INCOME:

                               

Net income attributable to common stock

  $ 65,538     $ 31,801     $ 111,245     $ 14,207  
   

 

 

   

 

 

   

 

 

   

 

 

 

WEIGHTED AVERAGE SHARES:

                               

Weighted average shares outstanding for basic earnings per share

    212,987       214,827       212,244       214,670  

Effect of dilutive stock options

    100       129       98       141  

Effect of shares in escrow

    —         67       —         795  
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average shares outstanding for diluted earnings per share

    213,087       215,023       212,342       215,606  
   

 

 

   

 

 

   

 

 

   

 

 

 

For purposes of calculating diluted earnings per share, there were no adjustments required to derive Quanta’s net income attributable to common stock. For the three and six months ended June 30, 2012 and 2011, a nominal number of stock options were excluded from the computation of diluted earnings per share because the exercise prices of the stock options 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 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, are included in weighted average shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2012 and 2011.