Stockholders' Equity

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

Earnings Per Share

Basic earnings per share has been computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the respective period. Diluted earnings per share has been computed by dividing earnings available to common stockholders by the weighted average shares outstanding during the respective period, after adjusting for any potential dilution of options to purchase the Company's common stock, assumed vesting of restricted stock and the assumed conversion of the Company’s convertible debentures. The following table provides the computation of diluted weighted average number of common shares outstanding:

	Three Months Ended June 30,		Six Months Ended June 30,
	2016	2015	2016	2015
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	52,061,158	51,935,757	52,373,462	51,804,459
Incremental shares from assumed exercise of stock options and vesting of restricted stock	1,720,448	1,722,747	1,666,114	1,688,121
Diluted weighted average shares outstanding	53,781,606	53,658,504	54,039,576	53,492,580

The table includes the impact of all stock options and restricted stock that are dilutive to the Company’s weighted average common shares outstanding during the three and six months ended June 30, 2016 and 2015. The calculation of diluted earnings per share excludes stock options or shares of restricted stock that are anti-dilutive to the Company’s weighted average common shares outstanding of approximately 636,000 and 637,000 for the three and six months ended June 30, 2016, respectively, and approximately 620,000 and 888,000 for the three and six months ended June 30,2015, respectively.

During 2016 and 2015, the Company had convertible notes outstanding that, if converted, could have had a potentially dilutive effect on its common stock. At issuance, the Company stated its intent to settle any conversion of these notes by paying cash for the principal value and issuing common stock for any conversion value in excess of the principal value. As of June 30, 2016, and currently, the Company maintains the intent and ability to settle any conversion as stated. Accordingly, the convertible notes would only have a dilutive effect if the market price per share of common stock exceeds the conversion price per share of common stock. Therefore, according to ASC 260, Earnings per Share, these notes were not dilutive to earnings per share for the three and six months ended June 30, 2016 and 2015. See Note 6, Debt Obligations, for more information about the convertible notes.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive loss consists entirely of foreign currency translation adjustments. The Company recorded a foreign currency translation loss of $28.0 million and a gain of $6.7 million for the three and six months ended June 30, 2016, respectively, and gain of $20.4 million and a loss of $34.9 million for the three and six months ended June 30,2015, respectively. There were no reclassifications of foreign currency translation into the consolidated statements of income for the three and six months ended June 30, 2016 and 2015.

Share Repurchase

In January 2016, the Company announced that its Board of Directors authorized a stock repurchase program ("2016 Program") allowing the Company to repurchase up to $100 million in value or 5 million shares of its common stock through December 10, 2017. During the six months ended June 30, 2016, the Company repurchased 1.1 million shares at a weighted average purchase price of $65.74 for a total value of $75.6 million under the 2016 Program.

In June 2016, the Board of Directors authorized an additional stock repurchase program ("Repurchase Program") with an effective date of July 28, 2016, allowing Euronet to repurchase up to $125 million in value or 3 million shares of its common stock through June 14, 2018. Repurchases under the Repurchase Program may take place in the open market or in privately negotiated transactions, including derivative transactions, and may be made under a Rule 10b5-1 plan.