Per Share Information

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2016 and 2015 are illustrated below (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Amounts attributable to common stock:
Net income from continuing operations	$	73,137	$	43,176	$	110,195	$	122,872
Net income from discontinued operations		605		173,212		605		193,109

Net income attributable to common stock	$	73,742	$	216,388	$	110,800	$	315,981

Weighted average shares:
Weighted average shares outstanding for basic earnings per share		155,024		188,951		158,090		206,181
Effect of dilutive stock options		—		10		—		12

Weighted average shares outstanding for diluted earnings per share		155,024		188,961		158,090		206,193

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 and nine months ended September 30, 2016 and 2015 for the portion of the periods that they were outstanding. Weighted average shares outstanding for basic and diluted earnings per share for the three and nine months ended September 30, 2016 were reduced by the additional shares received on April 12, 2016 in settlement of an accelerated share repurchase arrangement (as further described in Note 9).