Earnings per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER COMMON SHARE:

The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2014 and 2013 (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2014		2013
Numerators:
Net income attributable to Genesee & Wyoming Inc. common stockholders	$	40,004	$	82,563
Less: Series A-1 Preferred Stock dividend	—		2,139
Net income available to common stockholders	$	40,004	$	80,424
Denominators:
Weighted average Class A common shares outstanding - Basic	54,841		51,332
Weighted average Class B common shares outstanding	1,609		1,726
Dilutive effect of employee stock-based awards	455		513
Dilutive effect of Series A-1 Preferred Stock	—		2,925
Weighted average shares - Diluted	56,905		56,496
Earnings per common share attributable to Genesee & Wyoming Inc. common stockholders:
Basic earnings per common share	$	0.73	$	1.57
Diluted earnings per common share	$	0.70	$	1.46

The following total number of Class A common stock issuable under the assumed exercise of stock options computed based on the treasury stock method were excluded from the calculation of diluted earnings per common share, as the effect of including these shares would have been anti-dilutive (in thousands):

	Three Months Ended
	March 31,
	2014	2013
Anti-dilutive shares	186	102

Series A-1 Preferred Stock Converted into Common Stock on February 13, 2013

On February 13, 2013, the Company converted all of its outstanding Series A-1 Preferred Stock into 5,984,232 shares of the Company’s Class A common stock. The conversion resulted in an increase in the Company’s weighted average basic shares outstanding of 5,984,232 and 3,058,607 for the three months ended March 31, 2014 and 2013, respectively.

For basic earnings per common share for the three months ended March 31, 2013, the Company deducted the cumulative dividends on the Series A-1 Preferred Stock in calculating net income available to common stockholders (i.e., the numerator in the calculation of basic earnings per common share) divided by the weighted average number of common shares outstanding during each period. For diluted earnings per common share, the Company used the if-converted method when calculating diluted earnings per common share prescribed under U.S. GAAP.