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Earnings Per Share
 9 Months Ended
Jun. 30, 2016
Earnings Per Share  
Earnings Per Share

11.Earnings Per Share

 

The following table sets forth the computations of basic and diluted EPS for the years indicated, reflecting the amounts attributable to Headwaters and excluding the amounts attributable to the non-controlling interest in Entegra. In accordance with ASC 260, income from continuing operations for each period is used as the control number in determining whether potentially dilutive common shares should be included in the diluted earnings per share computations for those periods, even when the effect of doing so is anti-dilutive to the other per-share amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

June 30,

 

June 30,

 

(in thousands, except per-share amounts)

    

2015

    

2016

    

2015

    

2016

    

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$
23,118

 

$
17,527

 

$
5,281

 

$
33,076

 

Income from continuing operations attributable to non-controlling interest

 

 
(191)

 

 
(269)

 

 
(695)

 

 
(848)

 

Numerator for basic and diluted earnings per share from continuing operations — income from continuing operations attributable to Headwaters Incorporated

 

 
22,927

 

 
17,258

 

 
4,586

 

 
32,228

 

Numerator for basic and diluted earnings per share from discontinued operations — income (loss) from discontinued operations, net of income taxes

 

 
(110)

 

 
258

 

 
(387)

 

 
(186)

 

Numerator for basic and diluted earnings per share — net income attributable to Headwaters Incorporated

 

$
22,817

 

$
17,516

 

$
4,199

 

$
32,042

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share — weighted-average shares outstanding

 

 
73,658

 

 
73,848

 

 
73,553

 

 
73,819

 

Effect of dilutive securities — shares issuable upon exercise of options and SARs and vesting of restricted stock

 

 
2,386

 

 
1,609

 

 
2,146

 

 
1,569

 

Denominator for diluted earnings per share — weighted-average shares outstanding after assumed exercises and vesting

 

 
76,044

 

 
75,457

 

 
75,699

 

 
75,388

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income per share attributable to Headwaters Incorporated:

 

 

 

 

 

 

 

 

 

 

 

 

 

From continuing operations

 

$
0.31

 

$
0.23

 

$
0.06

 

$
0.43

 

From discontinued operations

 

 
0.00

 

 
0.00

 

 
0.00

 

 
0.00

 

 

 

$
0.31

 

$
0.23

 

$
0.06

 

$
0.43

 

Diluted income per share attributable to Headwaters Incorporated:

 

 

 

 

 

 

 

 

 

 

 

 

 

From continuing operations

 

$
0.30

 

$
0.23

 

$
0.06

 

$
0.43

 

From discontinued operations

 

 
0.00

 

 
0.00

 

 
0.00

 

 
0.00

 

 

 

$
0.30

 

$
0.23

 

$
0.06

 

$
0.43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities not considered in diluted EPS calculation:

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock-settled SARs

 

 
160

 

 
255

 

 
1,625

 

 
280

 

Stock options

 

 
72

 

 
0

 

 
94

 

 
24

 

Restricted stock

 

 
0

 

 
0

 

 
88

 

 
0