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Net Income Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Share

2.    Net Income Per Share

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

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands, except per share data)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to NuVasive, Inc.

 

$

3,926

 

 

$

12,960

 

 

$

30,771

 

 

$

54,788

 

Denominator for basic and diluted net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic

 

 

50,264

 

 

 

48,993

 

 

 

49,970

 

 

 

48,513

 

Dilutive potential common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and employee stock purchase plan

 

 

223

 

 

 

895

 

 

 

347

 

 

 

1,224

 

Restricted stock units

 

 

1,483

 

 

 

1,129

 

 

 

1,221

 

 

 

1,127

 

Warrants

 

 

2,141

 

 

 

417

 

 

 

986

 

 

 

139

 

Senior Convertible Notes

 

 

1,671

 

 

 

1,765

 

 

 

974

 

 

 

1,199

 

Weighted average common shares outstanding for diluted

 

 

55,782

 

 

 

53,199

 

 

 

53,498

 

 

 

52,202

 

Basic net income per share attributable to NuVasive, Inc.

 

$

0.08

 

 

$

0.26

 

 

$

0.62

 

 

$

1.13

 

Diluted net income per share attributable to NuVasive, Inc.

 

$

0.07

 

 

$

0.24

 

 

$

0.58

 

 

$

1.05

 

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 September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

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

 

 

6

 

 

 

13

 

 

 

1,213

 

 

 

53

 

Warrants

 

 

10,865

 

 

 

—

 

 

 

14,050

 

 

 

6,369

 

Senior Convertible Notes

 

 

—

 

 

 

—

 

 

 

10,067

 

 

 

—

 

Total

 

 

10,871

 

 

 

13

 

 

 

25,330

 

 

 

6,422

 

 

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 nine months ended September 30, 2016 reflects this retrospective adjustment to the Company’s financial results for the three months ended March 31, 2016.