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Per Share Information
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Per Share Information
7.

PER SHARE INFORMATION:

Basic earnings per share is computed using the weighted average number of common shares outstanding during the period, and diluted earnings per share is computed using the weighted average number of common shares outstanding during the period adjusted for all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be antidilutive. The amounts used to compute the basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015 are illustrated below (in thousands):

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2016      2015      2016      2015  

Amounts attributable to common stock:

            

Net income from continuing operations

    $ 16,562       $ 32,007       $ 37,058       $ 79,696   

Net income from discontinued operations

      —           14,102         —           19,897   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income attributable to common stock

    $ 16,562       $ 46,109       $ 37,058       $ 99,593   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares:

            

Weighted average shares outstanding for basic earnings per share

      156,128         213,047         159,577         214,257   

Effect of dilutive stock options

      2         12         2         12   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding for diluted earnings per share

      156,130         213,059         159,579         214,269   
  

 

 

     

 

 

     

 

 

     

 

 

  

For purposes of calculating diluted earnings per share, there were no adjustments required to derive Quanta’s net income attributable to common stock. Outstanding exchangeable shares that were issued pursuant to certain of Quanta’s historical acquisitions (as further discussed in Note 9), which are exchangeable on a one-for-one basis with shares of Quanta common stock, have been included in weighted average shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015. Weighted average shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2016 were reduced by the additional shares received in settlement of Quanta’s accelerated share repurchase arrangement (as further described in Note 9) as of April 12, 2016.