Earnings Per Share

12 Months Ended

Dec. 31, 2014

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)	2014		2013		2012
Income/(loss) from continuing operations	$	234,046	$	37,821	$	(15,500)
Income/(loss) from discontinued operations, net of tax		-		548		148
Net income/(loss)		234,046		38,369		(15,352)
Net income attributable to noncontrolling interest		11,527		11,465		11,464
Net income/(loss) attributable to controlling interest		222,519		26,904		(26,816)
Preferred stock dividends		6,200		5,838		-
Net income/(loss) available to common shareholders	$	216,319	$	21,066	$	(26,816)


Income/(loss) from continuing operations	$	234,046	$	37,821	$	(15,500)
Net income attributable to noncontrolling interest		11,527		11,465		11,464
Preferred stock dividends		6,200		5,838		-
Net income/(loss) from continuing operations available to common shareholders	$	216,319	$	20,518	$	(26,964)

Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

The component of Income/(loss) from continuing operations attributable to FHN as the controlling interest holder was $222.5 million, $26.4 million and $(27.0) million during the years ended December 31, 2014, 2013, and 2012, respectively.

The following table provides a reconciliation of weighted average common shares to diluted average common shares:

(Shares in thousands)	2014		2013		2012
Weighted average common shares outstanding - basic	234,997			237,972	248,349
Effect of dilutive securities		1,738		1,822	-
Weighted average common shares outstanding - diluted	236,735			239,794	248,349

The following tables show earnings/(loss) per common and diluted share:

Earnings/(loss) per common share:	2014		2013		2012
Income/(loss) per share from continuing operations available to common shareholders	$	0.92	$	0.09	$	(0.11)
Income/(loss) per share available to common shareholders	$	0.92	$	0.09	$	(0.11)

Diluted earnings/(loss) per common share:
Diluted income/(loss) per share from continuing operations available to common shareholders	$	0.91	$	0.09	$	(0.11)
Diluted income/(loss) per share available to common shareholders	$	0.91	$	0.09	$	(0.11)

Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

For the years ended December 31, 2014 and 2013, the dilutive effect for all potential common shares was 1.7 million and 1.8 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 4.6 million, 7.9 million and 10.0 million with weighted average exercise prices of $23.46, $21.95, and $22.07 per share for the years ended December 31, 2014, 2013 and 2012, respectively, were excluded from diluted shares because including such shares would be antidilutive.