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Per Share Information
 3 Months Ended
Mar. 31, 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 months ended March 31, 2014 and 2013 are illustrated below (in thousands):

 

    Three Months Ended
March 31,		  
    2014     2013  

AMOUNTS ATTRIBUTABLE TO COMMON STOCK:

    

Net income attributable to common stock

   $ 54,408      $ 72,081   
 

 

 

    

 

 

  

WEIGHTED AVERAGE SHARES:

    

Weighted average shares outstanding for basic earnings per share

     219,033        213,453   

Effect of dilutive stock options

     42        59   
 

 

 

    

 

 

  

Weighted average shares outstanding for diluted earnings per share

     219,075        213,512   
 

 

 

    

 

 

  

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 months ended March 31, 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. (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 months ended March 31, 2014, weighted for the portion of the period they were outstanding.