EQ » Topics » Earnings per Common Share

These excerpts taken from the EQ 10-K filed Feb 13, 2009.

Earnings per Common Share

Embarq calculates basic and diluted earnings per share in accordance with SFAS No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share for the year ended December 31, 2006, Embarq assumed that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the period from January 1, 2006, through May 17, 2006.

 

F-11


The dilution effect on Embarq’s common stock has been primarily related to outstanding stock options and restricted stock units. The following represents stock options that had an exercise price that was above the average annual market price of Embarq stock and were not included in the computation of diluted earnings per share:

 

     As of December 31,
     2008    2007    2006
     (millions)

Stock options

   5.2    2.1    3.3

Earnings per Common Share

Embarq calculates basic and diluted earnings per share in accordance with SFAS No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share for the year ended December 31, 2006, Embarq assumed that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the period from January 1, 2006, through May 17, 2006.

 

F-11


The dilution effect on Embarq’s common stock has been primarily related to outstanding stock options and restricted stock units. The following represents stock options that had an exercise price that was above the average annual market price of Embarq stock and were not included in the computation of diluted earnings per share:

 

     As of December 31,
     2008    2007    2006
     (millions)

Stock options

   5.2    2.1    3.3

Earnings per Common Share

Embarq
calculates basic and diluted earnings per share in accordance with SFAS No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share for the year ended December 31, 2006, Embarq assumed
that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the period from January 1, 2006, through May 17, 2006.

STYLE="margin-top:0px;margin-bottom:0px"> 


F-11








The dilution effect on Embarq’s common stock has been primarily related to outstanding stock options
and restricted stock units. The following represents stock options that had an exercise price that was above the average annual market price of Embarq stock and were not included in the computation of diluted earnings per share:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 




































   As of December 31,
   2008  2007  2006
   (millions)

Stock options

  5.2  2.1  3.3

Earnings per Common Share

Embarq
calculates basic and diluted earnings per share in accordance with SFAS No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share for the year ended December 31, 2006, Embarq assumed
that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the period from January 1, 2006, through May 17, 2006.

STYLE="margin-top:0px;margin-bottom:0px"> 


F-11








The dilution effect on Embarq’s common stock has been primarily related to outstanding stock options
and restricted stock units. The following represents stock options that had an exercise price that was above the average annual market price of Embarq stock and were not included in the computation of diluted earnings per share:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 




































   As of December 31,
   2008  2007  2006
   (millions)

Stock options

  5.2  2.1  3.3
These excerpts taken from the EQ 10-K filed Feb 29, 2008.

Earnings per Common Share

Embarq calculates basic and diluted earnings per share in accordance with SFAS No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share for the year ended December 31, 2006, Embarq assumed that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the period from January 1, 2006, through May 17, 2006.

The dilution effect for 2007 and 2006 was primarily related to outstanding stock options and restricted stock units. Approximately 2.1 million stock options in 2007 and 3.3 million stock options in 2006 had an exercise price that was above the average annual market price of Embarq stock. As such, these amounts were not included in the computation of diluted earnings per share.

Earnings per
Common Share

Embarq calculates basic and diluted earnings per share in accordance with SFAS No. 128, Earnings per Share.
For purposes of calculating pro forma basic and diluted earnings per share for the year ended December 31, 2006, Embarq assumed that the total common shares issued at spin-off, as well as its related potential dilutive securities, were
outstanding for the period from January 1, 2006, through May 17, 2006.

The dilution effect for 2007 and 2006 was primarily
related to outstanding stock options and restricted stock units. Approximately 2.1 million stock options in 2007 and 3.3 million stock options in 2006 had an exercise price that was above the average annual market price of Embarq stock. As
such, these amounts were not included in the computation of diluted earnings per share.

This excerpt taken from the EQ 10-Q filed Aug 1, 2007.

Earnings per Common Share

Basic and diluted earnings per share for the quarter and year to date periods ended June 30, 2007, was computed in accordance with Statement of Financial Accounting Standard (SFAS) No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share for the quarter and year to date periods ended June 30, 2006, Embarq assumed that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the period from January 1, 2006, through May 17, 2006.

This excerpt taken from the EQ 10-Q filed May 2, 2007.

Earnings per Common Share

Basic and diluted earnings per share for the quarter and year to date periods ended March 31, 2007, was computed in accordance with Statement of Financial Accounting Standard (SFAS) No. 128, Earnings per Share. For purposes of calculating pro forma basic and diluted earnings per share, Embarq assumed that the total common shares issued at spin-off, as well as its related potential dilutive securities, were outstanding for the quarter and year to date periods ended March 31, 2006.

This excerpt taken from the EQ 10-K filed Mar 9, 2007.

Earnings per Common Share

Pro forma basic and diluted earnings per common share were computed by dividing net income by the number of pro forma basic and diluted weighted average common shares outstanding for the year to date period ended December 31, 2006. For purposes of calculating pro forma basic weighted average common shares outstanding, Embarq assumed the shares issued at the spin-off of 149.1 million shares to be outstanding from the period from January 1, 2006 through May 17, 2006. For purposes of calculating pro forma diluted weighted average common shares outstanding, Embarq assumed potentially dilutive securities at the spin-date to be dilutive for the period January 1, 2006 through May 17, 2006.

The dilution effect as of December 31, 2006 of 1.2 million common shares was primarily related to outstanding stock options and restricted stock units. Approximately 3.3 million stock options had an exercise price that was above the average market price of Embarq stock during 2006. As such, these amounts were not included in the computation of diluted earnings per share.

This excerpt taken from the EQ 10-Q filed Nov 13, 2006.

Earnings per Common Share

Pro forma basic and diluted earnings per common share were computed by dividing net income by the number of pro forma basic and diluted weighted average common shares outstanding for the year to date period ended September 30, 2006. For purposes of calculating pro forma basic weighted average common shares outstanding, Embarq assumed the shares issued at the spin-off of 149 million shares to be outstanding from the period from January 1, 2006 through May 17, 2006. For purposes of calculating pro forma diluted weighted average common shares outstanding, Embarq assumed potentially dilutive securities at the spin-date to be dilutive for the period January 1, 2006 through May 17, 2006. Basic and diluted earnings per share for the quarter ended September 30, 2006 represented a full quarter of post-spin earnings and were computed in accordance with SFAS No. 128, Earnings per Share.

This excerpt taken from the EQ 10-Q filed Aug 14, 2006.

Earnings per Common Share

Pro forma basic and diluted earnings per common share were computed by dividing net income by the number of pro forma basic and diluted weighted average common shares outstanding for the quarter and year to date ended June 30, 2006. For purposes of calculating pro forma basic weighted average common shares outstanding, Embarq assumed the shares issued at the spin-off date of 149 million shares to be outstanding from the period from January 1, 2006 through May 17, 2006. For purposes of calculating pro forma diluted weighted average common shares outstanding, Embarq assumed potentially dilutive securities to be dilutive for the period January 1 through May 17, 2006.

 

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