Earnings Per Share

6 Months Ended

Jun. 30, 2019

5.	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						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Numerator:
Net income attributable to Cinemark Holdings, Inc.	$	100,971		$	82,135		$	133,699		$	144,156
Earnings allocated to participating share-based awards ⁽¹⁾		(656	)		(465	)		(779	)		(817	)
Net income attributable to common stockholders	$	100,315		$	81,670		$	132,920		$	143,339

Denominator (shares in thousands):
Basic weighted average common stock outstanding		116,325			116,091			116,253			115,988
Common equivalent shares for restricted stock units		223			177			271			250
Diluted common equivalent shares		116,548			116,268			116,524			116,238

Basic earnings per share attributable to common stockholders	$	0.86		$	0.70		$	1.14		$	1.23
Diluted earnings per share attributable to common stockholders	$	0.86		$	0.70		$	1.14		$	1.23

(1)

For the three months ended June 30, 2019 and 2018, a weighted average of approximately 763 and 676 shares of restricted stock, respectively, were considered participating securities. For the six months ended June 30, 2019 and 2018, a weighted average of approximately 685 and 663 shares of restricted stock, respectively, were considered participating securities.