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Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Disclosure Text Block  
Earnings per Share

5. Earnings Per Share

 

Basic earnings per share attributable to U.S. Cellular shareholders is computed by dividing Net income attributable to U.S. Cellular shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to U.S. Cellular shareholders is computed by dividing Net income attributable to U.S. Cellular shareholders 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 per common share and the effects of potentially dilutive securities on the weighted average number of common shares were as follows:

  Three Months Ended
  March 31,
  2015 2014
(Dollars and shares in thousands, except per share amounts)     
Net income attributable to U.S. Cellular shareholders$ 160,064 $ 19,482
       
Weighted average number of shares used in basic earnings per share  84,042   84,213
Effects of dilutive securities:     
 Stock options  157   203
 Restricted stock units  639   649
Weighted average number of shares used in diluted earnings per share  84,838   85,065
       
Basic earnings per share attributable to U.S. Cellular shareholders$ 1.90 $ 0.23
       
Diluted earnings per share attributable to U.S. Cellular shareholders$ 1.89 $ 0.23

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

  Three Months Ended
  March 31,
  2015 2014
(Shares in thousands)   
Stock options 2,360  1,276