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INCOME (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2015
INCOME (LOSS) PER COMMON SHARE  
INCOME (LOSS) PER COMMON SHARE

 

NOTE 10    INCOME (LOSS) PER COMMON SHARE

 

Basic income per common share is computed by dividing income available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards and convertible debt instruments. The dilutive effects of Newmont’s dilutive securities are calculated using the treasury stock method and only those instruments that result in a reduction in income per share are included in the calculation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended 

 

Nine Months Ended 

 

 

 

September 30, 

 

September 30, 

 

 

    

2015

    

2014

    

2015

    

2014

 

Net income (loss) attributable to Newmont stockholders 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$
202

 

$
210

 

$
440

 

$
509

 

Discontinued operations 

 

 
17

 

 
3

 

 
34

 

 
(16)

 

 

 

$
219

 

$
213

 

$
474

 

$
493

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares (millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic 

 

 
529

 

 
499

 

 
511

 

 
499

 

Effect of employee stock-based awards 

 

 
1

 

 
1

 

 
1

 

 

 —

 

Diluted 

 

 
530

 

 
500

 

 
512

 

 
499

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations 

 

$
0.38

 

$
0.42

 

$
0.86

 

$
1.02

 

Discontinued operations 

 

 
0.04

 

 
0.01

 

 
0.07

 

 
(0.03)

 

 

 

$
0.42

 

$
0.43

 

$
0.93

 

$
0.99

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations 

 

$
0.38

 

$
0.42

 

$
0.86

 

$
1.02

 

Discontinued operations 

 

 
0.04

 

 
0.01

 

 
0.07

 

 
(0.03)

 

 

 

$
0.42

 

$
0.43

 

$
0.93

 

$
0.99

 

 

Options to purchase 2 million and 3 million shares of common stock at average exercise prices of $48 were outstanding at September 30, 2015 and 2014, but were not included in the computation of diluted weighted average common shares because their exercise prices exceeded the average price of the Company’s common stock for the respective periods presented.

 

Newmont is required to settle the principal amount of its 2017 Convertible Senior Note in cash and may elect to settle the remaining conversion premium (average share price in excess of the conversion price), if any, in cash, shares or a combination thereof. The effect of contingently convertible instruments on diluted earnings per share is calculated under the net share settlement method. The conversion price exceeded the Company’s share price for the periods presented, therefore no additional shares were included in the computation of diluted weighted average common shares.