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NET INCOME PER COMMON SHARE
 12 Months Ended
Dec. 31, 2015
NET INCOME PER COMMON SHARE  
NET INCOME PER COMMON SHARE

NOTE 4— NET INCOME PER COMMON SHARE

Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. The 50,000 contingently issuable/restricted shares related to the acquisition of CCI were excluded from basic and diluted earnings per share since the contingency had not been met as of the reporting period.  Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would share in the net income of the Company. For the year ended December 31, 2015, the effect of 0.1 million stock appreciation rights (“SARs”) have not been considered in the diluted earnings per share, since the market price of the stock was less than the exercise price during the period in the computation. In addition, 0.5 million restricted shares have not been considered in the diluted earnings per share calculation for the year ended December 31, 2015, as the effect would be anti-dilutive.  For the year ended December 31, 2014, the effect of 0.1 million SARs have not been considered in the diluted earnings per share, since the market price of the stock was less than the exercise price during the period in the computation. For the year ended December 31, 2013, the effect of 0.1 million SARs have not been considered in the diluted earnings per share, since the market price of the stock was less than the exercise price during the period in the computation. In addition, 0.8 million restricted shares have not been considered in the diluted earnings per share calculation for the year ended December 31, 2013, as the effect would be anti‑ dilutive.

The following tables set forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

2015

    

2014

    

2013

 

Basic:

 

 

 

 

 

 

 

 

 

 

Net income attributable to ISG

 

$
4,841

 

$
6,178

 

$
4,776

 

Weighted average common shares

 

 
37,186

 

 
37,086

 

 
36,810

 

Earnings per share attributable to ISG

 

$
0.13

 

$
0.17

 

$
0.13

 

Diluted:

 

 

 

 

 

 

 

 

 

 

Net income attributable to ISG

 

$
4,841

 

$
6,178

 

$
4,776

 

Interest expense of convertible debt, net of tax

 

 
80

 

 
80

 

 
108

 

Net income, attributable to ISG, as adjusted

 

$
4,921

 

$
6,258

 

$
4,884

 

Basic weighted average common shares

 

 
37,186

 

 
37,086

 

 
36,810

 

Potential common shares

 

 
1,750

 

 
1,607

 

 
1,877

 

Diluted weighted average common shares

 

 
38,936

 

 
38,693

 

 
38,687

 

Diluted earnings per share attributable to ISG

 

$
0.13

 

$
0.16

 

$
0.13