KRG » Topics » Earnings Per Share

This excerpt taken from the KRG 8-K filed Dec 22, 2009.

Earnings Per Share

 

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

 

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. For the years ended December 31, 2008 and 2007, all of the Company’s outstanding deferred share units had a potentially dilutive effect. In addition, for the years ended December 31, 2007 and 2006, outstanding share options also had a potentially dilutive effect. The dilutive effect of these securities was as follows:

 

 

 

Year Ended

December 31

 

 

 

2008

 

2007

 

2006

 

Dilutive effect of outstanding share options to outstanding common shares

 

 

267,183

 

169,886

 

Dilutive effect of deferred share units to outstanding common shares

 

12,041

 

5,530

 

 

Total dilutive effect

 

12,041

 

272,713

 

169,886

 

 

For the year ended December 31, 2008, all of the Company’s outstanding common share options were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.

 

The effect of conversion of units of the Operating Partnership is not reflected in diluted common shares, as they are exchangeable for common shares on a one-for-one basis. The income allocable to such units is allocated on the same basis and reflected as redeemable noncontrolling interests in the Operating Partnership in the accompanying consolidated statements of operations. Therefore, the assumed conversion of these units would have no effect on the determination of income per common share.

 

This excerpt taken from the KRG 10-Q filed May 11, 2009.

Note 3. Earnings Per Share

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged, at our option, for either cash or shares under certain circumstances and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. The only securities that had a potentially dilutive effect for the three months ended March 31, 2009 and 2008 were outstanding share options and deferred share units, the dilutive effect of which was as follows:

 

9

 

 


 

 

 

Three Months Ended March 31,

 

 


 

 

2009

 

2008

 

 


 


Dilutive effect of outstanding share options to outstanding common shares

 

11,945

 

22,160

Dilutive effect of deferred share units to outstanding common shares

 

23,910

 

8,696

 

 


 


Total dilutive effect

 

35,855

 

30,856

 

 


 


 

For the three month periods ended March 31, 2009 and 2008, approximately 1.2 million and 0.2 million outstanding common share options, respectively, were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.

These excerpts taken from the KRG 10-K filed Mar 16, 2009.

Earnings Per Share

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. For the years ended December 31, 2008 and 2007, all of the Company’s outstanding deferred share units had a potentially dilutive effect. In addition, for the years ended December 31, 2007 and 2006, outstanding share options also had a potentially dilutive effect. The dilutive effect of these securities was as follows:

 

 

Year Ended

December 31

 

 

 

2008

 

2007

 

2006

 

Dilutive effect of outstanding share options to outstanding common shares

 

—  

 

267,183

 

169,886

 

Dilutive effect of deferred share units to outstanding common shares

 

12,041

 

5,530

 

—  

 

Total dilutive effect

 

12,041

 

272,713

 

169,886

 

For the year ended December 31, 2008, all of the Company’s outstanding common share options were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.



F-11



The effect of conversion of units of the Operating Partnership is not reflected in diluted common shares, as they are exchangeable for common shares on a one-for-one basis. The income allocable to such units is allocated on the same basis and reflected as Limited Partners’ interests in the Operating Partnership in the accompanying consolidated statements of operations. Therefore, the assumed conversion of these units would have no effect on the determination of income per common share.

Earnings Per Share

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. For the years ended December 31, 2008 and 2007, all of the Company’s outstanding deferred share units had a potentially dilutive effect. In addition, for the years ended December 31, 2007 and 2006, outstanding share options also had a potentially dilutive effect. The dilutive effect of these securities was as follows:

 

 

Year Ended

December 31

 

 

 

2008

 

2007

 

2006

 

Dilutive effect of outstanding share options to outstanding common shares

 

—  

 

267,183

 

169,886

 

Dilutive effect of deferred share units to outstanding common shares

 

12,041

 

5,530

 

—  

 

Total dilutive effect

 

12,041

 

272,713

 

169,886

 

For the year ended December 31, 2008, all of the Company’s outstanding common share options were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.



F-11



The effect of conversion of units of the Operating Partnership is not reflected in diluted common shares, as they are exchangeable for common shares on a one-for-one basis. The income allocable to such units is allocated on the same basis and reflected as Limited Partners’ interests in the Operating Partnership in the accompanying consolidated statements of operations. Therefore, the assumed conversion of these units would have no effect on the determination of income per common share.

Earnings Per Share


Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.


Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. For the years ended December 31, 2008 and 2007, all of the Company’s outstanding deferred share units had a potentially dilutive effect. In addition, for the years ended December 31, 2007 and 2006, outstanding share options also had a potentially dilutive effect. The dilutive effect of these securities was as follows:








 


 


Year Ended


December 31


 

 


 


2008


 


2007


 


2006


 

Dilutive effect of outstanding share options to outstanding common shares


 


—  


 

267,183


 

169,886


 

Dilutive effect of deferred share units to outstanding common shares


 


12,041


 

5,530


 

—  


 

Total dilutive effect


 

12,041


 

272,713


 

169,886


 


For the year ended December 31, 2008, all of the Company’s outstanding common share options were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.






F-11






The effect of conversion of units of the Operating Partnership is not reflected in diluted common shares, as they are exchangeable for common shares on a one-for-one basis. The income allocable to such units is allocated on the same basis and reflected as Limited Partners’ interests in the Operating Partnership in the accompanying consolidated statements of operations. Therefore, the assumed conversion of these units would have no effect on the determination of income per common share.


Earnings Per Share


Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.


Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. For the years ended December 31, 2008 and 2007, all of the Company’s outstanding deferred share units had a potentially dilutive effect. In addition, for the years ended December 31, 2007 and 2006, outstanding share options also had a potentially dilutive effect. The dilutive effect of these securities was as follows:








 


 


Year Ended


December 31


 

 


 


2008


 


2007


 


2006


 

Dilutive effect of outstanding share options to outstanding common shares


 


—  


 

267,183


 

169,886


 

Dilutive effect of deferred share units to outstanding common shares


 


12,041


 

5,530


 

—  


 

Total dilutive effect


 

12,041


 

272,713


 

169,886


 


For the year ended December 31, 2008, all of the Company’s outstanding common share options were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.






F-11






The effect of conversion of units of the Operating Partnership is not reflected in diluted common shares, as they are exchangeable for common shares on a one-for-one basis. The income allocable to such units is allocated on the same basis and reflected as Limited Partners’ interests in the Operating Partnership in the accompanying consolidated statements of operations. Therefore, the assumed conversion of these units would have no effect on the determination of income per common share.


This excerpt taken from the KRG 10-Q filed Nov 10, 2008.

Note 3. Earnings Per Share

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. For the three and nine months ended September 30, 2008 and 2007, all of the Company’s outstanding deferred share units had a potentially dilutive effect. In addition, for the three months ended September 30, 2007 and the nine months ended September 30, 2008 and 2007, outstanding share options also had a potentially dilutive effect. The dilutive effect of these securities was as follows:

 

 

 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 


 


 

 

2008

 

2007

 

2008

 

2007

 

 


 


 


 


Dilutive effect of outstanding share options to outstanding common shares

 

—  

 

216,861

 

19,930

 

286,759

Dilutive effect of deferred share units to outstanding common shares

 

12,414

 

7,246

 

10,373

 

4,822

 

 


 


 


 


Total dilutive effect

 

12,414

 

224,107

 

30,303

 

291,581

 

 


 


 


 


 

 

8

 

 


For the three and nine month periods ended September 30, 2008, approximately 1.4 million and 0.9 million, respectively, outstanding common share options were excluded from the computation of diluted earnings per share because their impact was anti-dilutive.

This excerpt taken from the KRG 10-Q filed Aug 11, 2008.

Note 3. Earnings Per Share

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. The only securities that had a potentially dilutive effect for the three and six months ended June 30, 2008 and 2007 were outstanding share options and deferred share units, the dilutive effect of which was as follows:

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 


 


 

 

2008

 

2007

 

2008

 

2007

 

 


 


 


 


Dilutive effect of outstanding share options to outstanding common shares

 

111,713

 

321,660

 

63,921

 

317,668

Dilutive effect of deferred share units to outstanding common shares

 

9,988

 

4,647

 

9,342

 

4,122

 

 


 


 


 


Total dilutive effect

 

121,701

 

326,307

 

73,263

 

321,790

 

 


 


 


 


 

This excerpt taken from the KRG 10-Q filed May 12, 2008.

Note 3. Earnings Per Share

Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

Potentially dilutive securities include outstanding share options, units in the Operating Partnership, which may be exchanged for cash or shares under certain circumstances, and deferred share units, which may be credited to the accounts of non-employee trustees in lieu of the payment of cash compensation or the issuance of common shares to such trustees. The only securities that had a potentially dilutive effect for the three months ended March 31, 2008 and 2007 were outstanding share options and deferred share units, the dilutive effect of which was as follows:

 

 

 

Three Months Ended March 31,

 

 


 

 

2008

 

2007

 

 


 


Dilutive effect of outstanding share options to outstanding common shares

 

22,160

 

317,840

Dilutive effect of deferred share units to outstanding common shares

 

8,696

 

—  

 

 


 


Total dilutive effect

 

30,856

 

317,840

 

 


 


 

 

8

 


These excerpts taken from the KRG 10-K filed Mar 17, 2008.

Earnings Per Share

          Basic earnings per share is calculated based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding combined with the incremental average shares that would have been outstanding assuming all potentially dilutive shares were converted into common shares as of the earliest date possible.

          Potential dilutive securities include outstanding share options and units of the Operating Partnership, which may be exchanged for cash or shares under certain circumstances. The only securities that had a potentially dilutive effect for the periods ended December 31, 2007, 2006, and 2005 were outstanding share options and deferred share units, the dilutive effect of which was 272,713, 169,886, and 113,081 for the years ended December 31, 2007, 2006, and 2005, respectively.

          The effect of conversion of units of the Operating Partnership is not reflected in diluted common shares, as they are exchangeable for common shares on a one-for-one basis. The income allocable to such units is allocated on the same basis and reflected as Limited Partners’ interests in the Operating Partnership in the accompanying consolidated statements of operations. Therefore, the assumed conversion of these units would have no effect on the determination of income per common share.

Earnings Per
Share




          Basic
earnings per share is calculated based on the weighted average number of shares
outstanding during the period. Diluted earnings per share is determined based on the
weighted average number of shares outstanding combined with the incremental average
shares that would have been outstanding assuming all potentially dilutive shares were
converted into common shares as of the earliest date possible.




          Potential
dilutive securities include outstanding share options and units of the Operating
Partnership, which may be exchanged for cash or shares under certain circumstances. The
only securities that had a potentially dilutive effect for the periods ended December
31, 2007, 2006, and 2005 were outstanding share options and deferred share units, the
dilutive effect of which was 272,713, 169,886, and 113,081 for the years ended December
31, 2007, 2006, and 2005, respectively.




          The
effect of conversion of units of the Operating Partnership is not reflected in diluted
common shares, as they are exchangeable for common shares on a one-for-one basis. The
income allocable to such units is allocated on the same basis and reflected as Limited
Partners’ interests in the Operating Partnership in the accompanying consolidated
statements of operations. Therefore, the assumed conversion of these units would have
no effect on the determination of income per common share.



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