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Per Share Information | 12 Months Ended
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Dec. 31, 2016
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 equivalents would be antidilutive. The amounts used to compute the basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014 are illustrated below (in thousands):
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Amounts attributable to common stock: |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 198,725 |  |  | $ | 120,286 |  |  | $ | 269,224 |
Net income (loss) from discontinued operations |  |  | (342 | ) |  |  | 190,621 |  |  |  | 27,490 |
Net income attributable to common stock |  | $ | 198,383 |  |  | $ | 310,907 |  |  | $ | 296,714 |
Weighted average shares: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding for basic earnings per share |  |  | 157,287 |  |  |  | 195,113 |  |  |  | 219,668 |
Effect of dilutive stock options |  |  | 1 |  |  |  | 7 |  |  |  | 22 |
Weighted average shares outstanding for diluted earnings per share |  |  | 157,288 |  |  |  | 195,120 |  |  |  | 219,690 |
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, 2016, 2015 and 2014 for the portion of the respective periods that they were outstanding. Weighted average shares outstanding for basic and diluted earnings per share for the year ended December 31, 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 11).

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