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Net Income Per Share (Tables)
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Computation of basic and diluted income per share

The following table sets forth the computation of basic and diluted income per share attributable to the Company:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands, except per share data)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to NuVasive, Inc.

 

$

30,213

 

 

$

10,268

 

 

$

26,845

 

 

$

41,828

 

Denominator for basic and diluted net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic

 

 

50,027

 

 

 

48,545

 

 

 

49,822

 

 

 

48,269

 

Dilutive potential common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and employee stock purchase plan

 

 

374

 

 

 

1,250

 

 

 

409

 

 

 

1,389

 

Restricted stock units

 

 

1,281

 

 

 

945

 

 

 

1,090

 

 

 

1,126

 

Warrants

 

 

819

 

 

 

—

 

 

 

409

 

 

 

—

 

Senior Convertible Notes

 

 

658

 

 

 

941

 

 

 

624

 

 

 

916

 

Weighted average common shares outstanding for diluted

 

 

53,159

 

 

 

51,681

 

 

 

52,354

 

 

 

51,700

 

Basic net income per share attributable to NuVasive, Inc.

 

$

0.60

 

 

$

0.21

 

 

$

0.54

 

 

$

0.87

 

Diluted net income per share attributable to NuVasive, Inc.

 

$

0.57

 

 

$

0.20

 

 

$

0.51

 

 

$

0.81

 

 
Anti-dilutive common stock equivalents not included in calculation of net income per diluted share

The following weighted-average outstanding common stock equivalents were not included in the calculation of net income per diluted share because their effects were anti-dilutive:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Stock options, employee stock purchase plan, and restricted stock units

 

 

3

 

 

 

126

 

 

 

1,817

 

 

 

74

 

Warrants

 

 

10,865

 

 

 

9,553

 

 

 

15,642

 

 

 

9,553

 

Senior Convertible Notes

 

 

10,865

 

 

 

—

 

 

 

15,100

 

 

 

—

 

Total

 

 

21,733

 

 

 

9,679

 

 

 

32,559

 

 

 

9,627

 

 

As discussed in Note 1 to the Unaudited Consolidated Financial Statements, the Company elected to early adopt ASU 2016-09 in the second quarter 2016, which requires any adjustments to be recorded as of the beginning of the fiscal year. The retrospective adjustments to the Company’s financial results for the three months ended March 31, 2016 included a decrease in net loss attributable to the Company of $5.5 million, which resulted in a decrease in net loss per share of $0.11. The financial information in the table above for the six months ended June 30, 2016 reflects this retrospective adjustment to the Company’s financial results for the three months ended March 31, 2016.