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Earnings per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings per Share

Note 5 - Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share for Noble-UK:

 

 

 

Year Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

511,000

 

 

$

(152,011

)

 

$

478,595

 

Earnings allocated to unvested share-based payment

   awards

 

 

(11,208

)

 

 

—

 

 

 

(5,669

)

Income (loss) from continuing operations to common

   shareholders

 

 

499,792

 

 

 

(152,011

)

 

 

472,926

 

Income from discontinued operations

 

 

—

 

 

 

160,502

 

 

 

304,102

 

Earnings allocated to unvested share-based payment

   awards

 

 

—

 

 

 

—

 

 

 

(3,602

)

Income from discontinued operations, net of tax to

   common shareholders

 

 

—

 

 

 

160,502

 

 

 

300,500

 

Net income attributable to Noble-UK

 

 

511,000

 

 

 

8,491

 

 

 

782,697

 

Earnings allocated to unvested share-based payment

   awards

 

 

(11,208

)

 

 

—

 

 

 

(9,271

)

Net income to common shareholders—basic

 

$

499,792

 

 

$

8,491

 

 

$

773,426

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

511,000

 

 

$

(152,011

)

 

$

478,595

 

Earnings allocated to unvested share-based payment

   awards

 

 

(11,208

)

 

 

—

 

 

 

(5,663

)

Income (loss) from continuing operations to common

   shareholders

 

 

499,792

 

 

 

(152,011

)

 

 

472,932

 

Income from discontinued operations

 

 

—

 

 

 

160,502

 

 

 

304,102

 

Earnings allocated to unvested share-based payment

   awards

 

 

—

 

 

 

—

 

 

 

(3,598

)

Income from discontinued operations, net of tax to

   common shareholders

 

 

—

 

 

 

160,502

 

 

 

300,504

 

Net income attributable to Noble-UK

 

 

511,000

 

 

 

8,491

 

 

 

782,697

 

Earnings allocated to unvested share-based payment

   awards

 

 

(11,208

)

 

 

—

 

 

 

(9,261

)

Net income to common shareholders—diluted

 

$

499,792

 

 

$

8,491

 

 

$

773,436

 

Weighted average shares outstanding—basic

 

 

242,146

 

 

 

252,909

 

 

 

253,288

 

Incremental shares issuable from assumed exercise of

   stock options

 

 

—

 

 

 

—

 

 

 

259

 

Weighted average shares outstanding—diluted

 

 

242,146

 

 

 

252,909

 

 

 

253,547

 

Weighted average unvested share-based payment

   awards

 

 

5,430

 

 

 

—

 

 

 

3,036

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

2.06

 

 

$

(0.60

)

 

$

1.86

 

Discontinued operations

 

 

—

 

 

 

0.63

 

 

 

1.19

 

Net income attributable to Noble-UK

 

$

2.06

 

 

$

0.03

 

 

$

3.05

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

2.06

 

 

$

(0.60

)

 

$

1.86

 

Discontinued operations

 

 

—

 

 

 

0.63

 

 

 

1.19

 

Net income attributable to Noble-UK

 

$

2.06

 

 

$

0.03

 

 

$

3.05

 

Dividends per share

 

$

1.28

 

 

$

1.50

 

 

$

0.76

 

 

Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. The effect of stock options and unvested share-based payment awards is not included in the computation for periods in which a net loss from continuing operations occurs because to do so would be anti-dilutive. For the years ended December 31, 2015, 2014 and 2013, approximately 1.7 million shares, 2.0 million shares and 0.9 million shares underlying stock options, respectively, were excluded from the diluted earnings per share as such stock options were not dilutive. For the year ended December 31, 2014, we experienced a net loss from continuing operations. As such, approximately 4.0 million unvested share-based payment awards were excluded from the diluted earnings per share calculation at December 31, 2014 as such awards were not dilutive.