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YRCW » Topics » 11. Earnings per Common Share

This excerpt taken from the YRCW 8-K filed Nov 9, 2009.

11. Earnings per Common Share

We present both basic and diluted earnings per share (“EPS”) amounts. Basic EPS is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted EPS is based upon the weighted average number of common and common equivalent shares outstanding during the year which is calculated using the treasury stock method for stock options and restricted stock units and assumes conversion of our convertible senior notes based on the related fiscal year financial data.

 

(in thousands except per share data)    2008     2007     2006

Numerator:

       

Net income (loss) for basic earnings (loss) per share

    $ (976,373 )    $ (640,362 )    $ 274,651

Interest expense on convertible senior notes (net of tax)

      -        -        182

Net income (loss) for diluted earnings (loss) per share

      (976,373 )      (640,362 )      274,833

Denominator:

       

Weighted average number of common shares outstanding (basic)

      57,583        57,154        57,361

Weighted average dilutive stock options and restricted stock units

      -        -        470

Assumed conversion of convertible senior notes

      -        -        508

Weighted average number of common and common equivalent shares outstanding (diluted)

      57,583        57,154        58,339

Basic earnings (loss) per share

    $ (16.96 )    $ (11.20 )    $ 4.79

Diluted earnings (loss) per share

    $ (16.96 )    $ (11.20 )    $ 4.71

 

30

The impacts of certain options and restricted stock units were excluded from the calculation of diluted earnings per share because the effects are antidilutive. In addition, the computation of the assumed conversion of the convertible senior notes includes inputs of the year-to-date average stock price relative to the stated conversion price. If this relationship is such that the year-to-date average stock price is less then the stated conversion price, the computed shares would be antidilutive under the treasury stock method.

Antidilutive options and share units were 2,366,000, 1,297,000 and 23,000 at December 31, 2008, 2007 and 2006, respectively. Antidilutive convertible senior note conversion shares were 20,581,000, 2,128,000 and 348,000 at December 31, 2008, 2007 and 2006, respectively.

This excerpt taken from the YRCW 10-K filed Mar 2, 2009.

11. Earnings per Common Share

We present both basic and diluted earnings per share (“EPS”) amounts. Basic EPS is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted EPS is based upon the weighted average number of common and common equivalent shares outstanding during the year which is calculated using the treasury stock method for stock options and restricted stock units and assumes conversion of our convertible senior notes based on the related fiscal year financial data.

 

(in thousands except per share data)

    2008     2007     2006

Numerator:

       

Net income (loss) for basic earnings (loss) per share

    $ (974,392 )   $ (638,381 )   $ 276,632

Interest expense on convertible senior notes (net of tax)

      —         —         182
                      

Net income (loss) for diluted earnings (loss) per share

      (974,392 )     (638,381 )     276,814

Denominator:

       

Weighted average number of common shares outstanding (basic)

      57,583       57,154       57,361

Weighted average dilutive stock options and restricted stock units

      —         —         470

Assumed conversion of convertible senior notes

      —         —         508
                      

Weighted average number of common and common equivalent shares outstanding (diluted)

      57,583       57,154       58,339
                      

Basic earnings (loss) per share

    $ (16.92 )   $ (11.17 )   $ 4.82
                      

Diluted earnings (loss) per share

    $ (16.92 )   $ (11.17 )   $ 4.74
                      

 

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Table of Contents

The impacts of certain options and restricted stock units were excluded from the calculation of diluted earnings per share because the effects are antidilutive. In addition, the computation of the assumed conversion of the convertible senior notes includes inputs of the year-to-date average stock price relative to the stated conversion price. If this relationship is such that the year-to-date average stock price is less then the stated conversion price, the computed shares would be antidilutive under the treasury stock method.

Antidilutive options and share units were 2,366,000, 1,297,000 and 23,000 at December 31, 2008, 2007 and 2006, respectively. Antidilutive convertible senior note conversion shares were 20,581,000, 2,128,000 and 348,000 at December 31, 2008, 2007 and 2006, respectively.

This excerpt taken from the YRCW 10-K filed Mar 1, 2007.

Earnings per Common Share

The Company presents both basic and diluted earnings per share (“EPS”) amounts. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the year. Diluted EPS is based upon the weighted average number of common and common equivalent shares outstanding during the year which is calculated using the treasury stock method for stock options and restricted stock units and assumes conversion of the Company’s convertible senior notes based on the related fiscal year financial data.

 

(in thousands except per share data)

    2006    2005    2004

Numerator:

         

Net income for basic earnings per share

    $ 276,632    $ 288,130    $ 184,327

Interest expense on convertible senior notes (net of tax)

      182      183      188
                    

Net income for diluted earnings per share

    $ 276,814    $ 288,313    $ 184,515

Denominator:

         

Weighted average number of common shares outstanding (basic)

      57,361      54,358      48,149

Weighted average dilutive stock options and restricted stock

      470      658      613

Assumed conversion of convertible senior notes

      508      1,889      412
                    

Weighted average number of common and common equivalent shares outstanding (diluted)

      58,339      56,905      49,174
                    

Basic earnings per share

    $ 4.82    $ 5.30    $ 3.83
                    

Diluted earnings per share

    $ 4.74    $ 5.07    $ 3.75
                    

The impacts of certain options were excluded from the calculation of diluted earnings per share because average exercise prices were greater than the average market price of common shares. In addition, the computation of the assumed conversion of the convertible senior notes includes inputs of the year-to-date average stock price relative to the stated conversion price. If this relationship is such that the year-to-date average stock price is less then the stated conversion price, the computed shares would be antidilutive under the treasury stock method. Data regarding any antidilutive securities is summarized below:

 

(in thousands except per share data)

    2006    2005    2004

Weighted average option shares outstanding

      23      —        —  

Weighted average exercise price

    $ 43.46    $ —      $ —  
                    

Antidilutive convertible senior note conversion shares

      348      —        411
                    
This excerpt taken from the YRCW 10-K filed Mar 15, 2006.

Earnings per Common Share

The Company presents both basic and diluted earnings per share (“EPS”) amounts. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the year. Diluted EPS is based upon the weighted average number of common and common equivalent shares outstanding during the year which is calculated using the treasury stock method for stock options and assumes conversion of the Company’s convertible senior notes.

 

(in thousands except per share data)

    2005    2004    2003

Numerator:

         

Net income for basic earnings per share

    $ 288,130    $ 184,327    $ 40,683

Interest expense on convertible senior notes (net of tax)

      183      188      —  
                    

Net income for diluted earnings per share

    $ 288,313    $ 184,515    $ 40,683

Denominator:

         

Weighted average number of common shares outstanding (basic)

      54,358      48,149      30,370

Weighted average dilutive stock options and restricted stock

      658      613      285

Assumed conversion of convertible senior notes

      1,889      412      —  
                    

Weighted average number of common and common equivalent shares outstanding (diluted)

      56,905      49,174      30,655
                    

Basic earnings per share

    $ 5.30    $ 3.83    $ 1.34
                    

Diluted earnings per share

    $ 5.07    $ 3.75    $ 1.33
                    

The impacts of certain options were excluded from the calculation of diluted earnings per share because average exercise prices were greater than the average market price of common shares. Data regarding those options is summarized below:

 

(in thousands except per share data)

    2005    2004    2003

Weighted average option shares outstanding

      —        —        148

Weighted average exercise price

    $ —      $ —      $ 29.67

EXCERPTS ON THIS PAGE:

8-K
Nov 9, 2009
10-K
Mar 2, 2009
10-K
Mar 1, 2007
10-K
Mar 15, 2006

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