XML 1084 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

Note 17 – Earnings Per Share

 

The following tables provide a reconciliation of the numerators used in calculating earnings/(loss) per share attributable to common shareholders:
          
(Dollars in thousands)2013 2012 2011 
Income/(loss) from continuing operations$ 40,519 $ (16,443) $ 134,012 
Income/(loss) from discontinued operations, net of tax  548   148   8,618 
Net income/(loss)  41,067   (16,295)   142,630 
Net income attributable to noncontrolling interest  11,465   11,464   11,434 
Net income/(loss) attributable to controlling interest  29,602   (27,759)   131,196 
Preferred stock dividends  5,838   -   - 
Net income/(loss) available to common shareholders$ 23,764 $ (27,759) $ 131,196 
          
          
Income/(loss) from continuing operations$ 40,519 $ (16,443) $ 134,012 
Net income attributable to noncontrolling interest  11,465   11,464   11,434 
Preferred stock dividends  5,838   -   - 
Net income/(loss) from continuing operations available to common shareholders$ 23,216 $ (27,907) $ 122,578 

The component of Income/(loss) from continuing operations attributable to FHN as the controlling interest holder was $29.1 million, $(27.9) million and $122.6 million during the years ended December 31, 2013, 2012, and 2011, respectively.

The following table provides a reconciliation of weighted average common shares to diluted average common shares:
      
(Shares in thousands)2013 2012 2011 
Weighted average common shares outstanding - basic 237,972  248,349  260,574 
Effect of dilutive securities   1,822   -   2,287 
Weighted average common shares outstanding - diluted 239,794  248,349  262,861 

The following tables provide a reconciliation of earnings/(loss) per common and diluted share:
    
Earnings/(loss) per common share:2013 2012 2011 
Income/(loss) per share from continuing operations available to common shareholders$0.10 $(0.11) $0.47 
Income/(loss) per share from discontinued operations, net of tax  -   -  0.03 
Net income/(loss) per share available to common shareholders$0.10 $(0.11) $0.50 
          
Diluted earnings/(loss) per common share:         
Diluted income/(loss) per share from continuing operations available to common shareholders$0.10 $ (0.11) $0.47 
Diluted income/(loss) per share from discontinued operations, net of tax  -   -  0.03 
Diluted income/(loss) per share available to common shareholders$0.10 $(0.11) $0.50 

For the years ended December 31, 2013 and 2011, the dilutive effect for all potential common shares was 1.8 million and 2.3 million, respectively. Due to the net loss attributable to common shareholders for the year ended December 31, 2012, no potentially dilutive shares were included in the loss per share calculation as including such shares would have been antidilutive. Stock options of 7.9 million, 10.0 million and 10.6 million with weighted average exercise prices of $21.95, $22.07, and $24.91 per share for the years ended December 31, 2013, 2012 and 2011, respectively, were excluded from diluted shares because including such shares would be antidilutive. Other equity awards of 3.5 million and .6 million for the years ended December 31, 2012 and 2011, respectively, were excluded from diluted shares because including such shares would have been antidilutive. The capital purchase program (“CPP”) common stock warrant, which was repurchased in 2011, resulted in .7 million dilutive shares for the year ended December 31, 2011.