Annual report pursuant to Section 13 and 15(d)

Income (Loss) Per Share

v3.3.1.900
Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2015
Income (Loss) Per Share  
Income (Loss) Per Share

14.  INCOME (LOSS) PER SHARE

 

Basic net income per share is calculated by dividing net income by the weighted average shares outstanding during the period, without consideration for common stock equivalents.

 

Diluted net income per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury stock method.

 

For comparative purposes, the computation of basic and diluted earnings per common share for prior year periods presented was calculated using the shares distributed at Separation.

 

Basic and diluted income (loss) per share were computed as follows, in thousands (except share and per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

    

2015

    

2014

    

2013

Income (loss) from continuing operations

 

$
79,123

 

$
10,496

 

$
(11,551)

Loss from discontinued operations, net

 

 
(152)

 

 
(1,093)

 

 
(1,187)

Net income (loss) - basic and diluted

 

$
78,971

 

$
9,403

 

$
(12,738)

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding - basic

 

 
37,674,913

 

 
37,667,947

 

 
37,667,947

 

 

 

 

 

 

 

 

 

 

Dilutive effect of common stock equivalents:

 

 

 

 

 

 

 

 

 

Restricted stock awards

 

 
93,688

 

 

 —

 

 

 —

Stock options

 

 
12,274

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding - diluted

 

 
37,780,875

 

 
37,667,947

 

 
37,667,947

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$
2.10

 

$
0.28

 

$
(0.31)

Loss from discontinued operations, net

 

 

 —

 

 
(0.03)

 

 
(0.03)

Net income (loss)

 

$
2.10

 

$
0.25

 

$
(0.34)

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$
2.09

 

$
0.28

 

$
(0.31)

Loss from discontinued operations, net

 

 

 —

 

 
(0.03)

 

 
(0.03)

Net income (loss)

 

$
2.09

 

$
0.25

 

$
(0.34)

 

Certain restricted stock awards and stock options were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive.

 

On June 30, 2015, we distributed 37.7 million shares of our common stock to Masco shareholders in conjunction with the Separation.