Earnings Per Share

9 Months Ended

Sep. 30, 2015

3.	Earnings Per Share

The Company considers its unvested restricted stock awards, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two-class method. Basic earnings per share for the two classes of stock (common stock and unvested restricted stock) is calculated by dividing net income by the weighted average number of shares of common stock and unvested restricted stock outstanding during the reporting period. Diluted earnings per share is calculated using the weighted average number of shares of common stock plus the potentially dilutive effect of common equivalent shares outstanding determined under both the two class method and the treasury stock method.

The following table presents computations of basic and diluted earnings per share under the two-class method:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Numerator:
Net income attributable to Cinemark Holdings, Inc.	$	46,339		$	38,129		$	159,118		$	145,303
Earnings allocated to participating share based awards ⁽¹⁾		(304	)		(293	)		(938	)		(1,004	)

Net income attributable to common stockholders	$	46,035		$	37,836		$	158,180		$	144,299

Denominator (shares in thousands):
Basic weighted average common stock outstanding		115,164			114,814			115,051			114,596
Common equivalent shares for restricted stock units		192			207			228			305

Diluted		115,356			115,021			115,279			114,901

Basic earnings per share attributable to common stockholders	$	0.40		$	0.33		$	1.37		$	1.25

Diluted earnings per share attributable to common stockholders	$	0.40		$	0.33		$	1.37		$	1.25

⁽¹⁾

For the three months ended September 30, 2015 and 2014, a weighted average of approximately 762 and 888 shares of unvested restricted stock, respectively, were considered participating securities. For the nine months ended September 30, 2015 and 2014, a weighted average of approximately 684 and 801 shares of unvested restricted stock, respectively, were considered participating securities.