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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Disclosure Text Block  
Earnings per Share

4. Earnings Per Share

 

Basic earnings (loss) per share attributable to TDS shareholders is computed by dividing Net income (loss) available to common shareholders of TDS by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share attributable to TDS shareholders is computed by dividing Net income (loss) available to common shareholders of TDS by the weighted average number of common shares outstanding during the period adjusted to include the effects of potentially dilutive securities. Potentially dilutive securities primarily include incremental shares issuable upon exercise of outstanding stock options and the vesting of restricted stock units.

 

The amounts used in computing earnings (loss) per common share and the effects of potentially dilutive securities on the weighted average number of common shares were as follows:

     Three Months Ended Six Months Ended
     June 30, June 30,
     2014 2013 2014 2013
(Dollars and shares in thousands, except per share amounts)            
Basic earnings (loss) per share attributable to TDS shareholders:           
 Net income (loss) available to common shareholders of TDS used in basic earnings (loss) per share$ (22,050) $ 156,065 $ (3,809) $ 157,471
Adjustments to compute diluted earnings:           
 Noncontrolling interest adjustment  -   (1,173)   (5)   (1,209)
 Preferred dividend adjustment  -   12   -   25
 Net income (loss) attributable to common shareholders of TDS used in diluted earnings (loss) per share$ (22,050) $ 154,904 $ (3,814) $ 156,287
                
Weighted average number of shares used in basic earnings (loss) per share:           
  Common Shares  101,543   101,246   101,682   101,171
  Series A Common Shares  7,176   7,139   7,171   7,149
   Total  108,719   108,385   108,853   108,320
                
Effects of dilutive securities:           
 Stock options  -   110   -   108
 Restricted stock units  -   364   -   345
 Preferred shares  -   54   -   54
Weighted average number of shares used in diluted earnings (loss) per share  108,719   108,913   108,853   108,827
                
Basic earnings (loss) per share attributable to TDS shareholders$ (0.20) $ 1.44 $ (0.04) $ 1.45
                
Diluted earnings (loss) per share attributable to TDS shareholders$ (0.20) $ 1.42 $ (0.04) $ 1.44

Certain Common Shares issuable upon the exercise of stock options, vesting of restricted stock units or conversion of preferred shares were not included in average diluted shares outstanding for the calculation of Diluted earnings (loss) per share attributable to TDS shareholders because their effects were antidilutive. The number of such Common Shares excluded, if any, is shown in the table below.

  Three Months Ended Six Months Ended
  June 30, June 30,
  2014 2013 2014 2013
(Shares in thousands)       
Stock options 8,883  7,348  8,777  7,012
         
Restricted stock units 824  200  737  102
         
Preferred shares 56  -  56  -