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Per Share Information
 12 Months Ended
Dec. 31, 2014
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 years ended December 31, 2014, 2013 and 2012 are illustrated below (in thousands):

 

     Year Ended December 31,  
     2014     2013      2012  

Amounts Attributable to Common Stock:

        

Net income from continuing operations

    $ 297,341      $ 401,921       $ 289,694   

Net income (loss) from discontinued operations

      (627 )      —           16,935   
  

 

 

    

 

 

     

 

 

  

Net income attributable to common stock

 $ 296,714    $ 401,921    $ 306,629   
  

 

 

    

 

 

     

 

 

  

Weighted Average Shares:

Weighted average shares outstanding for basic earnings per share

   219,668      214,929      212,777   

Effect of dilutive stock options

   22      49      58   
  

 

 

    

 

 

     

 

 

  

Weighted average shares outstanding for diluted earnings per share

   219,690      214,978      212,835   
  

 

 

    

 

 

     

 

 

  

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 11), 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 years ended December 31, 2014, 2013 and 2012 for the portion of the respective periods that they were outstanding.