Per Share Information

3 Months Ended

Mar. 31, 2016

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 three months ended March 31, 2016 and 2015 are illustrated below (in thousands):


	Three Months Ended March 31,
	2016		2015
Amounts attributable to common stock:
Net income from continuing operations	$	20,496	$	47,689
Net income from discontinued operations		—		5,795

Net income attributable to common stock	$	20,496	$	53,484

Weighted average shares:
Weighted average shares outstanding for basic earnings per share		162,803		215,473
Effect of dilutive stock options		3		17

Weighted average shares outstanding for diluted earnings per share		162,806		215,490

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 9), 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, 2016 and 2015. However, the additional shares that were received on April 12, 2016 in settlement of Quanta’s accelerated share repurchase arrangement entered into in August 2015 (as further described in Note 9) have not been included in the weighted average shares outstanding for basic and diluted earnings per share for the three months ended March 31, 2016 because the additional share repurchases had not yet been settled.