XML 93 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

5.

Earnings Per Share

The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):

 

 

 

Year Ended December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

84,197

 

 

$

(151,293

)

 

$

60,719

 

Discontinued operations, net of income taxes

 

 

—

 

 

 

1,838

 

 

 

762

 

Net income

 

$

84,197

 

 

$

(149,455

)

 

$

61,481

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding

 

 

145,044,351

 

 

 

129,700,000

 

 

 

129,700,000

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and unvested restricted stock units

 

 

486,938

 

 

 

—

 

 

 

—

 

Diluted weighted-average shares outstanding

 

 

145,531,289

 

 

 

129,700,000

 

 

 

129,700,000

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.58

 

 

$

(1.17

)

 

$

0.47

 

Discontinued operations

 

 

—

 

 

 

0.02

 

 

 

—

 

Net earnings per share

 

$

0.58

 

 

$

(1.15

)

 

$

0.47

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.58

 

 

$

(1.17

)

 

$

0.47

 

Discontinued operations

 

 

—

 

 

 

0.02

 

 

 

—

 

Net earnings per share

 

$

0.58

 

 

$

(1.15

)

 

$

0.47

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive stock options not included

   in diluted earnings per share

 

 

1,295,280

 

 

 

—

 

 

 

—

 

 

In the Merger, each issued and outstanding WRECO common share was converted into 1.297 shares of TRI Pointe common stock. The historical issued and outstanding WRECO common shares (100,000,000 common shares for all periods presented prior to the Merger) have been recast (as 129,700,000 common shares of the Company for all periods prior to the Merger) in all periods presented to reflect this conversion.  See Note 2, Merger with Weyerhaeuser Real Estate Company, for further information on the Merger.