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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2015
EARNINGS PER SHARE  
EARNINGS PER SHARE

 

13.EARNINGS PER SHARE

 

As of February 1, 2015, the Company became a wholly owned subsidiary of Dai-ichi Life, and for the period of February 1, 2015 to March 31, 2015 (Successor Company), there was no market for the Company’s common stock and therefore the Company will no longer disclose earnings per share information.

 

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period, including shares issuable under various deferred compensation plans. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and dilutive potential common shares outstanding during the period, assuming the shares were not anti-dilutive, including shares issuable under various stock-based compensation plans and stock purchase contracts.

 

A reconciliation of the numerators and denominators of the basic and diluted earnings per share is presented below for the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the three months ended March 31, 2014 (Predecessor Company):

 

 

 

Predecessor

 

 

 

Company

 

 

 

January 1, 2015

 

For The

 

 

 

to

 

Three Months Ended

 

 

 

January 31, 2015

 

March 31, 2014

 

 

 

(Dollars In Thousands, Except Per Share Amounts)

 

Calculation of basic earnings per share:

 

 

 

 

 

Net income

 

$
1,509 

 

$
83,639 

 

 

 

 

 

 

 

Average shares issued and outstanding

 
79,343,253 

 
78,627,003 

 

Issuable under various deferred compensation plans

 
1,109,595 

 
981,458 

 

Weighted shares outstanding - basic

 
80,452,848 

 
79,608,461 

 

 

 

 

 

 

 

Per share:

 

 

 

 

 

Net income - basic

 

$
0.02 

 

$
1.05 

 

 

 

 

 

 

 

Calculation of diluted earnings per share:

 

 

 

 

 

Net income

 

$
1,509 

 

$
83,639 

 

 

 

 

 

 

 

Weighted shares outstanding - basic

 
80,452,848 

 
79,608,461 

 

Stock appreciation rights (“SARs”)

 
64,570 

 
466,251 

 

Issuable under various other stock-based compensation plans

 
935,382 

 
565,664 

 

Restricted stock units

 
306,487 

 
231,776 

 

Weighted shares outstanding - diluted

 
81,759,287 

 
80,872,152 

 

 

 

 

 

 

 

Per share:

 

 

 

 

 

Net income - diluted

 

$
0.02 

 

$
1.03