Earnings Per Share

6 Months Ended

Jun. 30, 2016

Note 9 – Earnings Per Share

The following table presents our basic and diluted earnings per share:


	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016			2015
	(In thousands, except per share data)
Net income (loss) attributable to Expedia, Inc.	$	31,649	$	449,644	$	(76,940	)	$	493,787
Earnings (loss) per share attributable to Expedia, Inc. available to common stockholders:
Basic	$	0.21	$	3.49	$	(0.51	)	$	3.85
Diluted		0.21		3.38		(0.51	)		3.74
Weighted average number of shares outstanding:
Basic		149,552		128,887		150,332			128,229
Dilutive effect of:
Options to purchase common stock		3,753		3,954		—			3,840
Other dilutive securities		227		119		—			115

Diluted		153,532		132,960		150,332			132,184

Basic earnings per share is calculated using our weighted-average outstanding common shares. The earnings per share amounts are the same for common stock and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.

Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we recognize a net loss, we exclude the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an antidilutive effect. For the three and six months ended June 30, 2016, approximately 12 million and 22 million of outstanding stock awards have been excluded from the calculations of diluted earnings (loss) per share attributable to common stockholders because their effect would have been antidilutive. For the three and six months ended June 30, 2015, approximately 7 million of outstanding stock awards were excluded from the calculations of diluted earnings per share attributable to common stockholders because their effect would have been antidilutive.