EX-11.(A) 2 d846166dex11a.htm EX-11.(A)

Exhibit 11(a)

LAMAR ADVERTISING COMPANY

AND SUBSIDIARIES

Earnings Per Share Computation Information

Years ended December 31, 2014, 2013 and 2012

|  | Year Ended December 31, 2014 |  |  | Year Ended December 31, 2013 |  |  | Year Ended December 31, 2012 |
Net income applicable to common stock |  | $ | 253,153,000 |  |  | $ | 39,774,000 |  |  | $ | 7,525,000 |
Weighted average common shares outstanding |  |  | 95,218,083 |  |  |  | 94,387,230 |  |  |  | 93,379,246 |
Shares issuable upon exercise of stock options |  |  | 66,043 |  |  |  | 358,285 |  |  |  | 287,395 |
Incremental shares of convertible debt |  |  | — |  |  |  | — |  |  |  | — |
Weighted average common shares and common equivalents outstanding |  |  | 95,284,126 |  |  |  | 94,745,515 |  |  |  | 93,666,641 |
Net income per common share basic and diluted |  | $ | 2.66 |  |  | $ | 0.42 |  |  | $ | 0.08 |

The above earnings per share (EPS) calculations are submitted in accordance with Statement of Financial Accounting Standards No. 128. An EPS calculation in accordance with Regulation S-K item 601 (b) (11) is not shown above for the years ended December 31, 2014, 2013 and 2012 because it produces an antidilutive result. The following information is disclosed for purposes of calculating antidilutive EPS for that period.

|  | Year Ended December 31, 2014 |  |  | Year Ended December 31, 2013 |  |  | Year Ended December 31, 2012 |
Net income applicable to common stock |  | $ | 253,153,000 |  |  | $ | 39,774,000 |  |  | $ | 7,525,000 |
Income impact of assumed conversions |  |  | — |  |  |  | — |  |  |  | — |
Income available to common shareholders plus assumed conversion |  | $ | 253,153,000 |  |  | $ | 39,774,000 |  |  | $ | 7,525,000 |
Weighted average common shares outstanding |  |  | 95,218,083 |  |  |  | 94,387,230 |  |  |  | 93,379,246 |
Shares issuable upon exercise of stock options |  |  | 66,043 |  |  |  | 358,285 |  |  |  | 287,395 |
Incremental shares from convertible debt |  |  | — |  |  |  | — |  |  |  | — |
Weighted average common shares plus dilutive potential common shares |  |  | 95,284,126 |  |  |  | 94,745,515 |  |  |  | 93,666,641 |
Net income per common share |  | $ | 2.66 |  |  | $ | 0.42 |  |  | $ | 0.08 |