XML 40 R10.htm IDEA: XBRL DOCUMENT v3.20.1
(Loss) Earnings Per Share
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share

Note 3. (Loss) Earnings Per Share

 

The details of the earnings per share calculations for the three months ended March 31, 2020 and 2019 are as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

 

Basic:

 

2020

 

 

2019

 

Net (loss) income

 

$

(21

)

 

$

48

 

Weighted average common shares outstanding (in thousands)

 

 

122,962

 

 

 

122,570

 

(Loss) earnings per share - Basic

 

$

(0.17

)

 

$

0.39

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

Diluted:

 

2020

 

 

2019

 

Net (loss) income

 

$

(21

)

 

$

48

 

Weighted average common shares outstanding - Basic (in thousands)

 

 

122,962

 

 

 

122,570

 

Dilutive effect of common stock equivalents

 

 

-

 

 

 

902

 

Weighted average common shares outstanding - Diluted (in thousands)

 

 

122,962

 

 

 

123,472

 

(Loss) earnings per share - Diluted

 

$

(0.17

)

 

$

0.39

 

 

(Loss) earnings per share for March 31, 2020 and 2019, excludes 752.4 and 552.0 of treasury shares, respectively.

 

Diluted earnings per share is computed based upon the weighted average number of common shares outstanding for the period plus the dilutive effect of common stock equivalents using the treasury stock method and the average market price of our common stock for the three months ended March 31, 2020 and 2019. In periods where the Company has a net loss, no dilutive common shares are included in the calculation for diluted shares as they are considered anti-dilutive. For the three months ended March 31, 2020, average options and other rights to purchase approximately 4.5 million shares of common stock were outstanding, all of which were anti-dilutive during the three months ended March 31, 2020, and therefore excluded from the computation of diluted earnings per common share. As of March 31, 2019, options and other rights to purchase approximately 1.8 million shares of common stock were outstanding, all of which were anti-dilutive during the three months ended March 31, 2019, and therefore excluded from the computation of diluted income per common share. In addition, an average of approximately 0.4 million and 0.3 million shares of performance-based unit awards are excluded from the computation of diluted earnings per common share for the three months ended March 31, 2020 and 2019, respectively, as the contingency has not been satisfied at March 31, 2020 and 2019.