XML 31 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 3 – EARNINGS PER SHARE

The Company computes basic earnings per share (“EPS”) by dividing net income (loss), by the weighted-average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings.

 

The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS when the Company is in an income position. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not distributed. The following tables show distributed and undistributed earnings:

 

     Three Months Ended  
     March 31, 2013      April 1, 2012  

Earnings Per Share from Continuing Operations:

      

Basic Earnings (Loss) Per Share Attributable to Common Stockholders:

      

Distributed Earnings

    $ 0.03       $ (0.02 ) 

Undistributed Earnings

      0.08         (0.08 ) 
  

 

 

     

 

 

  

Total

    $ 0.11       $ (0.10 ) 
  

 

 

     

 

 

  

Diluted Earnings (Loss) Per Share Attributable to Common Stockholders:

      

Distributed Earnings

    $ 0.03       $ (0.02 ) 

Undistributed Earnings

      0.08         (0.08 ) 
  

 

 

     

 

 

  

Total

    $ 0.11       $ (0.10 ) 
  

 

 

     

 

 

  

Earnings (Loss) Per Share from Discontinued Operations:

   

Basic earnings (loss) per share attributable to Interface, Inc. common shareholders

      

Distributed earnings

    $ 0.00       $ 0.00   

Undistributed earnings

      0.00         0.00   

Diluted earnings (loss) per share attributable to Interface, Inc. common shareholders

      

Distributed earnings

    $ 0.00       $ 0.00   

Undistributed earnings

      0.00         0.00   

Basic earnings (loss) per share attributable to Interface, Inc. common shareholders

    $ 0.11       $ (0.09 ) 

Diluted earnings (loss) per share attributable to Interface, Inc. common shareholders

    $ 0.11       $ (0.09 ) 

The following table presents net income that was attributable to participating securities.

 

     Three Months Ended  
     March 31, 2013      April 1, 2012  
     (In millions)  

Net Income

    $ 0.2       $ 0.0   

The weighted average shares for basic and diluted EPS were as follows:

 

     Three Months Ended  
     March 31, 2013      April 1, 2012  
     (In thousands)  

Weighted Average Shares Outstanding

      64,406         63,443   

Participating Securities

      1,710         0   
  

 

 

     

 

 

  

Shares for Basic Earnings Per Share

      66,116         63,443   

Dilutive Effect of Stock Options

      158         0   
  

 

 

     

 

 

  

Shares for Diluted Earnings Per Share

      66,274         63,443   
  

 

 

     

 

 

  

For the three months ended April 1, 2012, options to purchase 535,000 shares of common stock were not included in the computation of diluted EPS as their impact would be anti-dilutive. For the three months ended April 1, 2012, 2,009,000 shares of participating securities were excluded from the computation of EPS as their impact would be anti-dilutive.