EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015

14.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 September 30, 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 and nine months ended September 30, 2014 (Predecessor Company):

	Predecessor Company
	January 1, 2015		For The Three		For The Nine
	to		Months Ended		Months Ended
	January 31, 2015		September 30, 2014		September 30, 2014
	(Dollars In Thousands, Except Per Share Amounts)
Calculation of basic earnings per share:
Net income	$	1,509	$	118,909	$	310,525


Average shares issued and outstanding	79,343,253		79,095,917		78,860,218
Issuable under various deferred compensation plans	1,109,595		1,135,674		1,081,800

Weighted shares outstanding - basic	80,452,848		80,231,591		79,942,018


Per share:
Net income - basic	$	0.02	$	1.48	$	3.88


Calculation of diluted earnings per share:
Net income	$	1,509	$	118,909	$	310,525


Weighted shares outstanding - basic	80,452,848		80,231,591		79,942,018
Stock appreciation rights (“SARs”)	64,570		72,223		342,203
Issuable under various other stock-based compensation plans	935,382		869,320		718,215
Restricted stock units	306,487		285,736		258,813

Weighted shares outstanding - diluted	81,759,287		81,458,870		81,261,249


Per share:
Net income - diluted	$	0.02	$	1.46	$	3.82