Earning Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earning Per Share

Note 12: Earnings Per Share

The following table sets forth the reconciliation between weighted average shares used for calculating basic and diluted earnings per share for the three years in the period ended December 31, 2012 (in thousands, except per share amounts):

	2012			2011			2010
Income (Numerator)
Net earnings attributable to Belo Corp.	$	100,170		$	57,958		$	86,906
Less: Income to participating securities		(1,049	)		(730	)		(1,303	)
Income available to common stockholders		99,121			57,228			85,603
Effect of dilutive securities		2			2			5
Income available to common stockholders plus assumed conversions	$	99,123		$	57,230		$	85,608
Shares (Denominator)
Weighted average shares outstanding (basic)		103,507			103,606			103,026
Dilutive effect of employee stock options and PBRSUs		505			374			411
Adjusted weighted average shares outstanding		104,012			103,980			103,437
Net earnings per share:
Basic	$	0.96		$	0.55		$	0.83
Diluted	$	0.95		$	0.55		$	0.83

In calculating diluted earnings per share (EPS) for the years ended December 31, 2012, 2011 and 2010, the Company excluded common stock options for 5,794 shares, 6,946 shares and 9,174 shares, respectively, because to include them would be anti-dilutive. For the year outstanding December 31, 2012, the company excluded performance based RSUs (PBRSUs) of 237 because to include them would be anti-dilutive. Additionally, for the years ended December 31, 2012, 2011 and 2010, the Company excluded from the diluted EPS calculation restricted stock units (RSUs) of 303, 457 and 337, respectively, because they are participating securities.