Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Notes)

v3.3.1.900
Earnings Per Share (Notes)
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share, or EPS, for the years ended December 31, 2015, 2014 and 2013:
 
Year Ended
 
December 31,
(in thousands, except share data)
2015
 
2014
 
2013
Numerator:
 
 
 
 
 
Net income from continuing operations
$
492,210

 
$
167,139

 
$
575,040

Income from discontinued operations
—

 
—

 
3,999

Net income
$
492,210

 
$
167,139

 
$
579,039

Denominator:
 
 
 
 
 
Weighted average common shares outstanding
363,055,228

 
364,181,059

 
349,741,902

Weighted average restricted stock shares
2,192,510

 
1,830,796

 
619,925

Basic weighted average shares outstanding
365,247,738

 
366,011,855

 
350,361,827

Dilutive weighted average warrants
—

 
—

 
630,560

Diluted weighted average shares outstanding
365,247,738

 
366,011,855

 
350,992,387

Basic Earnings Per Share:
 
 
 
 
 
Continuing operations
$
1.35

 
$
0.46

 
$
1.64

Discontinued operations
—

 
—

 
0.01

Net income
$
1.35

 
$
0.46

 
$
1.65

Diluted Earnings Per Share:
 
 
 
 
 
Continuing operations
$
1.35

 
$
0.46

 
$
1.64

Discontinued operations
—

 
—

 
0.01

Net income
$
1.35

 
$
0.46

 
$
1.65



No warrants were outstanding during the years ended December 31, 2015 and 2014; however, during the year ended December 31, 2013, the weighted average market value per share of the Company’s common stock, after factoring in the number of shares of the Company’s common stock issuable for each warrant of 1.0727 shares, was above the exercise price of the warrants, making the warrants dilutive.