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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share
3. Earnings Per Share

The Company considers its unvested restricted stock awards, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two-class method. Basic earnings per share for the two classes of stock (common stock and unvested restricted stock) is calculated by dividing net income by the weighted average number of shares of common stock and unvested restricted stock outstanding during the reporting period. Diluted earnings per share is calculated using the weighted average number of shares of common stock plus the potentially dilutive effect of common equivalent shares outstanding determined under both the two class method and the treasury stock method.

The following table presents computations of basic and diluted earnings per share under the two-class method:

 

     Three Months Ended
June 30,		     Six Months Ended
June 30,		  
     2014     2013     2014     2013  

Numerator:

         

Net income attributable to Cinemark Holdings, Inc.

    $ 71,731      $ 20,265      $ 107,174      $ 52,859   

Earnings allocated to participating share-based awards (1)

      (542 )      (225 )      (704 )      (547 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net income attributable to common stockholders

    $ 71,189      $ 20,040      $ 106,470      $ 52,312   
  

 

 

    

 

 

    

 

 

    

 

 

  

Denominator (shares in thousands):

         

Basic weighted average common stock outstanding

      114,786        114,007        114,485        113,745   

Common equivalent shares for stock options

      —          9        —          10   

Common equivalent shares for restricted stock units

      175        371        329        455   
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

      114,961        114,387        114,814        114,210   
  

 

 

    

 

 

    

 

 

    

 

 

  

Basic earnings per share attributable to common stockholders

    $ 0.62      $ 0.18      $ 0.93      $ 0.46   
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings per share attributable to common stockholders

    $ 0.62      $ 0.18      $ 0.93      $ 0.46   
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)  For the three months ended June 30, 2014 and 2013, a weighted average of approximately 876 and 1,289 shares of unvested restricted stock, respectively, were considered participating securities. For the six months ended June 30, 2014 and 2013, a weighted average of approximately 761 and 1,197 shares of unvested restricted stock, respectively, were considered participating securities.