WR » Topics » Dilutive Shares

These excerpts taken from the WR 10-K filed Feb 27, 2009.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSU) during the period reported. Diluted earnings per share includes the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs, the exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans and the physical settlement of a forward sale agreement. We compute the dilutive effect of shares issuable under our stock-based compensation plans and forward sale agreement using the treasury stock method.

 

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The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Year Ended December 31,
     2008    2007    2006

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

        

Denominator for basic earnings per share – weighted average equivalent shares

   103,958,414    90,675,511    87,509,800

Effect of dilutive securities:

        

Employee stock options

   728    952    788

Restricted share units

   448,314    517,694    589,352

Forward sale agreement

   —      66,686    —  
              

Denominator for diluted earnings per share – weighted average equivalent shares

   104,407,456    91,260,843    88,099,940
              

Potentially dilutive shares not included in the denominator because they are antidilutive

   21,300    74,890    158,080
              

Dilutive Shares


We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares
issuable in connection with vested restricted share units (RSU) during the period reported. Diluted earnings per share includes the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs, the
exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans and the physical settlement of a forward sale agreement. We compute the dilutive effect of shares issuable under our stock-based
compensation plans and forward sale agreement using the treasury stock method.

 


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The following table reconciles the weighted average number of equivalent common shares outstanding used
to compute basic and diluted earnings per share.

 





















































































































   Year Ended December 31,
   2008  2007  2006

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

      

Denominator for basic earnings per share – weighted average equivalent shares

  103,958,414  90,675,511  87,509,800

Effect of dilutive securities:

      

Employee stock options

  728  952  788

Restricted share units

  448,314  517,694  589,352

Forward sale agreement

  —    66,686  —  
         

Denominator for diluted earnings per share – weighted average equivalent shares

  104,407,456  91,260,843  88,099,940
         

Potentially dilutive shares not included in the denominator because they are antidilutive

  21,300  74,890  158,080
         
This excerpt taken from the WR 10-Q filed Nov 7, 2008.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of outstanding stock options issued pursuant to the terms of our stock based compensation plans. The dilutive effect of shares issuable under our stock based compensation plans is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Three Months Ended
September 30,
   Nine Months Ended
September 30,
     2008    2007    2008    2007

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

           

Denominator for basic earnings per share – weighted average equivalent shares

   108,714,778    91,940,879    102,311,608    89,904,566

Effect of dilutive securities:

           

Employee stock options

   746    902    797    990

Restricted share units

   428,040    491,258    447,766    520,717
                   

Denominator for diluted earnings per share – weighted average equivalent shares

   109,143,564    92,433,039    102,760,171    90,426,273
                   

Potentially dilutive shares not included in the denominator since they are antidilutive

   21,300    74,890    21,300    74,890
                   

 

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This excerpt taken from the WR 10-Q filed Aug 8, 2008.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of outstanding stock options issued pursuant to the terms of our stock based compensation plans. The dilutive effect of shares issuable under our stock based compensation plans is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Three Months Ended
June 30,
   Six Months Ended
June 30,
     2008    2007    2008    2007

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

           

Denominator for basic earnings per share – weighted average equivalent shares

   100,733,815    89,781,652    99,074,840    88,869,534

Effect of dilutive securities:

           

Employee stock options

   807    1,034    822    1,030

Restricted share units

   440,836    535,383    457,836    489,177
                   

Denominator for diluted earnings per share – weighted average equivalent shares

   101,175,458    90,318,069    99,533,498    89,359,741
                   

Potentially dilutive shares not included in the denominator since they are antidilutive

   21,300    74,890    21,300    74,890
                   

 

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This excerpt taken from the WR 10-Q filed May 9, 2008.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of outstanding stock options issued pursuant to the terms of our stock based compensation plans. Potentially dilutive shares not included in the denominator of the diluted earnings per share calculation because they are antidilutive include all shares issuable under the forward equity sales agreement (forward sale agreement) and a portion of outstanding stock options. The dilutive effect of shares issuable under our stock based compensation plans and forward sale agreement is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Three Months Ended
March 31,
     2008    2007

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

     

Denominator for basic earnings per share – weighted average equivalent shares

   97,415,866    87,947,281

Effect of dilutive securities:

     

Employee stock options

   837    1,026

Restricted share units

   472,332    516,806
         

Denominator for diluted earnings per share – weighted average equivalent shares

   97,889,035    88,465,113
         

Potentially dilutive shares not included in the denominator because they are antidilutive

   3,099,890    74,890
         

 

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Table of Contents
This excerpt taken from the WR 10-K filed Feb 29, 2008.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSU) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs, the exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans and the physical settlement of a forward sale agreement. The dilutive effect of shares issuable under our stock-based compensation plans and forward sale agreement is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

      Year Ended December 31,
     2007    2006    2005

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

        

Denominator for basic earnings per share – weighted average equivalent shares

   90,675,511    87,509,800    86,855,485

Effect of dilutive securities:

        

Employee stock options

   952    788    1,750

Restricted share units

   517,694    589,352    552,423

Forward sale agreement

   66,686    —      —  
              

Denominator for diluted earnings per share – weighted average equivalent shares

   91,260,843    88,099,940    87,409,658
              

Potentially dilutive shares not included in the denominator because they are antidilutive

   74,890    158,080    214,340
              
This excerpt taken from the WR 10-Q filed Nov 2, 2007.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of all outstanding stock options issued pursuant to the terms of our stock based compensation plans. The dilutive effect of shares issuable under our stock based compensation plans is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Three Months Ended
September 30,
   Nine Months Ended
September 30,
     2007    2006    2007    2006

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

           

Denominator for basic earnings per share – weighted average equivalent shares

   91,940,879    87,578,093    89,904,566    87,440,865

Effect of dilutive securities:

           

Employee stock options

   902    1,069    990    931

Restricted share units

   491,258    670,175    520,717    652,831
                   

Denominator for diluted earnings per share – weighted average equivalent shares

   92,433,039    88,249,337    90,426,273    88,094,627
                   

Potentially dilutive shares not included in the denominator since they are antidilutive

   74,890    162,570    74,890    162,570
                   

 

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Table of Contents
This excerpt taken from the WR 10-Q filed Aug 8, 2007.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of all outstanding stock options issued pursuant to the terms of our stock based compensation plans. The dilutive effect of shares issuable under our stock based compensation plans is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

    

Three Months Ended

June 30,

  

Six Months Ended

June 30,

     2007    2006    2007    2006

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

           

Denominator for basic earnings per share – weighted average equivalent shares

   89,781,652    87,461,996    88,869,534    87,371,108

Effect of dilutive securities:

           

Employee stock options

   1,034    909    1,030    897

Restricted share units

   535,383    684,173    489,177    662,604
                   

Denominator for diluted earnings per share – weighted average equivalent shares

   90,318,069    88,147,078    89,359,741    88,034,609
                   

Potentially dilutive shares not included in the denominator since they are antidilutive

   74,890    201,640    74,890    201,640
                   

 

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Table of Contents
This excerpt taken from the WR 10-Q filed May 9, 2007.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans. The dilutive effect of shares issuable under our stock-based compensation plans is computed using the treasury stock method.

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

    

Three Months Ended

March 31,

     2007    2006

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

     

Denominator for basic earnings per share – weighted average equivalent shares

   87,947,281    87,279,334

Effect of dilutive securities:

     

Employee stock options

   1,026    1,428

Restricted share units

   516,806    733,318
         

Denominator for diluted earnings per share – weighted average shares

   88,465,113    88,014,080
         

Potentially dilutive shares not included in the denominator because they are antidilutive

   74,890    214,340
         
This excerpt taken from the WR 10-K filed Mar 1, 2007.

Dilutive Shares

We report basic earnings per share applicable to equivalent common stock based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSU) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs, the exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans and the additional issuance of shares under the employee stock purchase plan (ESPP). We discontinued the ESPP effective January 1, 2005. The dilutive effect of shares issuable under the ESPP and our stock-based compensation plans is computed using the treasury stock method.

 

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The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Year Ended December 31,
     2006    2005    2004

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

        

Denominator for basic earnings per share – weighted average equivalent shares

   87,509,800    86,855,485    82,941,374

Effect of dilutive securities:

        

Employee stock purchase plan shares

   —      —      17,515

Employee stock options

   788    1,750    1,943

Restricted share units

   589,352    552,423    680,216
              

Denominator for diluted earnings per share – weighted average shares

   88,099,940    87,409,658    83,641,048
              

Potentially dilutive shares not included in the denominator because they are antidilutive

   158,080    214,340    217,375
              
This excerpt taken from the WR 10-Q filed Nov 3, 2006.

Dilutive Shares

Basic earnings per share applicable to equivalent common stock are based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans. The dilutive effect of shares issuable under our stock-based compensation plans is computed using the treasury stock method.

 

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Table of Contents

The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Three Months Ended
September 30,
   Nine Months Ended
September 30,
     2006    2005    2006    2005
DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:            

Denominator for basic earnings per share – weighted average equivalent shares

   87,578,093    86,949,726    87,440,865    86,783,512

Effect of dilutive securities:

           

Employee stock options

   1,069    1,901    931    1,784

Restricted share units

   670,175    600,680    652,831    588,387
                   

Denominator for diluted earnings per share – weighted average equivalent shares

   88,249,337    87,552,307    88,094,627    87,373,683
                   

Potentially dilutive shares not included in the denominator since they are antidilutive

   162,570    214,340    162,570    214,340
                   
This excerpt taken from the WR 10-Q filed Aug 9, 2006.

Dilutive Shares

Basic earnings per share applicable to equivalent common stock are based on the weighted average number of common shares outstanding and shares issuable in connection with vested restricted share units (RSUs) during the period reported. Diluted earnings per share include the effects of potential issuances of common shares resulting from the assumed vesting of all outstanding RSUs and the exercise of all outstanding stock options issued pursuant to the terms of our stock-based compensation plans. The dilutive effect of shares issuable under our stock-based compensation plans is computed using the treasury stock method.

 

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The following table reconciles the weighted average number of equivalent common shares outstanding used to compute basic and diluted earnings per share.

 

     Three Months Ended
June 30,
  

Six Months Ended

June 30,

     2006    2005    2006    2005

DENOMINATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:

           

Denominator for basic earnings per share – weighted average equivalent shares

   87,461,996    86,827,477    87,371,108    86,699,027

Effect of dilutive securities:

           

Employee stock options

   909    1,734    897    1,722

Restricted share units

   684,173    621,035    662,604    583,717
                   

Denominator for diluted earnings per share – weighted average equivalent shares

   88,147,078    87,450,246    88,034,609    87,284,466
                   

Potentially dilutive shares not included in the denominator since they are antidilutive

   201,640    215,340    201,640    215,340
                   
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