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AMZN » Topics » Earnings (Loss) per Share

This excerpt taken from the AMZN 10-K filed Mar 11, 2005.

Earnings (Loss) per Share

 

In accordance with SFAS No. 128, Earnings per Share, the weighted-average number of shares used to calculate basic earnings (loss) per share excludes shares of restricted stock since they are subject to repurchase or forfeiture.

 

For periods when we have net income, the dilutive effect of outstanding stock awards, including restricted stock, is included in the calculation of diluted earnings per share using the treasury stock method for assumed proceeds, if any. For periods when we have a net loss, the effect of outstanding stock awards, including restricted stock, is antidilutive and therefore excluded from the calculation of diluted loss per share.

 

Stock issuable upon conversion of our convertible debt instruments is excluded from the calculation of diluted earnings per share as its effect is antidilutive. See “Note 4—Long-Term Debt and Other.”

 

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Table of Contents

AMAZON.COM, INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

The following table shows the calculation of diluted shares (in thousands):

 

     Year Ended December 31,
  
     2004
     2003
     2002
  

Weighted average shares outstanding

    406,480     396,389     379,494  

Weighted average shares of restricted stock

    (554 )   (910 )   (1,131 )
    
 
 

Shares used in computation of basic earnings (loss) per share

    405,926     395,479     378,363  

Total dilutive effect of outstanding stock awards (1)

    18,831     23,873     —    
    
 
 

Shares used in computation of diluted earnings (loss) per share

    424,757     419,352     378,363  
    
 
 
(1) The effect of outstanding stock awards, including restricted stock, is antidilutive for periods that we have a net loss and, accordingly, is excluded from the calculation of diluted loss per share in those periods. The dilutive effect of stock awards and restricted stock is included in the calculation of weighted average shares, using the treasury stock method, for periods that we have net income.

 

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