EARNINGS (LOSS) PER SHARE

The following tables set forth the computation of basic and diluted earnings (loss) per share attributable to IAC shareholders.



	Three Months Ended June 30,
	2015						2014
	Basic			Diluted			Basic			Diluted
	(In thousands, except per share data)
Numerator:
Earnings (loss) from continuing operations	$	57,885		$	57,885		$	(17,995	)	$	(17,995	)
Net loss attributable to noncontrolling interests	1,573			1,573			867			867
Earnings (loss) from continuing operations attributable to IAC shareholders	59,458			59,458			(17,128		)	(17,128		)
Loss from discontinued operations attributable to IAC shareholders	(153		)	(153		)	(868		)	(868		)
Net earnings (loss) attributable to IAC shareholders	$	59,305		$	59,305		$	(17,996	)	$	(17,996	)

Denominator:
Weighted average basic shares outstanding	82,416			82,416			83,178			83,178
Dilutive securities including stock options and RSUs^(a)(b)	—			4,674			—			—
Denominator for earnings per share—weighted average shares^(a)(b)	82,416			87,090			83,178			83,178

Earnings (loss) per share attributable to IAC shareholders:
Earnings (loss) per share from continuing operations	$	0.72		$	0.68		$	(0.21	)	$	(0.21	)
Discontinued operations	—			—			(0.01		)	(0.01		)
Earnings (loss) per share	$	0.72		$	0.68		$	(0.22	)	$	(0.22	)



	Six Months Ended June 30,
	2015						2014
	Basic			Diluted			Basic			Diluted
	(In thousands, except per share data)
Numerator:
Earnings from continuing operations	$	79,748		$	79,748		$	16,310		$	16,310
Net loss attributable to noncontrolling interests	5,990			5,990			3,261			3,261
Earnings from continuing operations attributable to IAC shareholders	85,738			85,738			19,571			19,571
Loss from discontinued operations attributable to IAC shareholders	(28		)	(28		)	(1,682		)	(1,682		)
Net earnings attributable to IAC shareholders	$	85,710		$	85,710		$	17,889		$	17,889

Denominator:
Weighted average basic shares outstanding	82,932			82,932			82,833			82,833
Dilutive securities including stock options and RSUs^(a)	—			4,989			—			5,150
Denominator for earnings per share—weighted average shares^(a)	82,932			87,921			82,833			87,983

Earnings (loss) per share attributable to IAC shareholders:
Earnings per share from continuing operations	$	1.03		$	0.98		$	0.24		$	0.22
Discontinued operations	—			(0.01		)	(0.02		)	(0.02		)
Earnings per share	$	1.03		$	0.97		$	0.22		$	0.20

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^(a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and vesting of restricted stock units ("RSUs"). For the three and six months ended June 30, 2015 approximately 1.0 million and 1.2 million potentially dilutive securities, respectively, are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the six months ended June 30, 2014, there are no securities that are excluded from the calculation of diluted earnings per share.

^(b) For the three months ended June 30, 2014, the Company had a loss from continuing operations and as a result, approximately 11.5 million potentially dilutive securities were excluded for computing dilutive earnings per share because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all earnings per share amounts.