• Filing Date: 2019-03-08
  • Form Type: 10-K
  • Description: Annual report
v3.10.0.1
Earnings Per Share
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
Note 19 — Earnings Per Share
U.S. GAAP requires the Company to use the 
two-class
 method in computing basic earnings (loss) per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common stockholders. These participating securities affect the computation of both basic and diluted earnings (loss) per share during periods of net income (loss).
A summary of the numerator and denominator of the basic and fully diluted earnings (loss) per common share is presented below:
 
 
 
Income
(Numerator)
 
 
Shares (a)
(Denominator)
 
 
Per Share
Amount
 
Year Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
17,725
 
 
 
 
 
 
 
 
 
Less: Loss attributable to participating securities*
 
 
717
 
 
 
 
 
 
 
 
 
Basic Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
 
Income allocated to common stockholders
 
 
18,442
 
 
 
7,878
 
 
$
2.34
 
Effect of Dilutive Securities:**
 
 
 
 
 
 
 
 
 
 
 
 
Stock options
 
 
 
 
 
17
 
 
 
 
 
Diluted Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
 
Income available to common stockholders and assumed conversions
 
$
18,442
 
 
 
7,895
 
 
$
2.34
 
 
(a)
Shares in thousands.
*
Loss attributable to participating securities included the reclassification of cumulative dividends paid on certain restricted stock with market based vesting conditions from retained income to expense. See
 
Restricted Stock Awards
 
in Note 21 — “Stock-Based Compensation” for additional information.
**
Convertible senior notes were excluded due to antidilutive effect.
 
 
 
Loss
(Numerator)
 
 
Shares (a)
(Denominator)
 
 
Per Share
Amount
 
Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(6,893
)
 
 
 
 
 
 
 
 
Less: Loss attributable to participating securities
 
 
481
 
 
 
 
 
 
 
 
 
Basic and Diluted Loss Per Share:
 
 
 
 
 
 
 
 
 
 
 
 
Loss available to common stockholders***
 
$
(6,412
)
 
 
8,558
 
 
$
(0.75
)
 
(a)
Shares in thousands.
***
Stock options and convertible senior notes were excluded due to antidilutive effect.
 
 
 
Income
(Loss)
(Numerator)
 
 
Shares (a)
(Denominator)
 
 
Per Share
Amount
 
Year Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
29,021
 
 
 
 
 
 
 
 
 
Less: Income attributable to participating securities
 
 
(1,545
)
 
 
 
 
 
 
 
 
Basic Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
 
Income allocated to common stockholders
 
 
27,476
 
 
 
9,326
 
 
$
2.95
 
Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
 
Stock options
 
 
 
 
 
54
 
 
 
 
 
Convertible senior notes
 
 
4,244
 
 
 
1,493
 
 
 
 
 
Diluted Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
 
Income available to common stockholders and assumed conversions
 
$
31,720
 
 
 
10,873
 
 
$
2.92
 
 
(a)
Shares in thousands.