XML 119 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

Note 9 – Earnings Per Share

 

The following tables provide a reconciliation of the numerators used in calculating earnings/(loss) per share attributable to common shareholders: 
             
 Three Months Ended Nine Months Ended 
 September 30 September 30 
(Dollars in thousands)2013 2012 2013 2012 
Income/(loss) from continuing operations$ (103,149) $ 28,574 $ (13,375) $ (60,037) 
Income/(loss) from discontinued operations, net of tax  123   108   554   160 
Net income/(loss)  (103,026)   28,682   (12,821)   (59,877) 
Net income attributable to noncontrolling interest  2,875   2,875   8,531   8,563 
Net income/(loss) attributable to controlling interest  (105,901)   25,807   (21,352)   (68,440) 
Preferred stock dividends  1,550   -   4,288   - 
Net income/(loss) available to common shareholders$ (107,451) $ 25,807 $ (25,640) $ (68,440) 
             
             
Income/(loss) from continuing operations$ (103,149) $ 28,574 $ (13,375) $ (60,037) 
Net income attributable to noncontrolling interest  2,875   2,875   8,531   8,563 
Preferred stock dividends  1,550   -   4,288   - 
Net income/(loss) from continuing operations available to common shareholders$ (107,574) $ 25,699 $ (26,194) $ (68,600) 

The component of Income/(loss) from continuing operations attributable to FHN as the controlling interest holder was $(106.0) million and $25.7 million during the three months ended September 30, 2013 and 2012, respectively, and $(21.9) million and $(68.6) million during the nine months ended September 30, 2013 and 2012, respectively.

The following table provides a reconciliation of weighted average common shares to diluted average common shares:
          
 Three Months Ended Nine Months Ended 
 September 30 September 30 
(Shares in thousands) 2013 2012 2013 2012 
Weighted average common shares outstanding - basic 236,895 246,628 238,990 249,742 
Effect of dilutive securities   -  1,678  -  - 
Weighted average common shares outstanding - diluted 236,895 248,306 238,990 249,742 

The following tables provide a reconciliation of earnings/(loss) per common and diluted share: 
             
 Three Months Ended Nine Months Ended 
 September 30 September 30 
Earnings/(loss) per common share:2013 2012 2013 2012 
Income/(loss) per share from continuing operations available to common shareholders$(0.45) $0.10 $(0.11) $(0.27) 
Income/(loss) per share from discontinued operations, net of tax  -   -   -   - 
Net income/(loss) per share available to common shareholders$(0.45) $0.10 $(0.11) $(0.27) 
Diluted earnings/(loss) per common share:            
Diluted income/(loss) per share from continuing operations available to common shareholders$(0.45) $ 0.10 $(0.11) $ (0.27) 
Diluted income/(loss) per share from discontinued operations, net of tax  -   -   -   - 
Diluted income/(loss) per share available to common shareholders$(0.45) $0.10 $(0.11) $(0.27) 

For the three and nine months ended September 30, 2013, and nine months ended September 30, 2012, all potential common shares were antidilutive due to the net loss attributable to common shareholders for these periods. For the three months ended September 30, 2012, the dilutive effect for all potential common shares was 1.7 million. 9.4 million and 10.0 million stock options, with weighted average exercise prices of $19.55 and $21.27 per share for the three months ended September 30, 2013 and 2012, respectively, were excluded from diluted shares because including such shares would be antidilutive. 9.8 million and 10.4 million stock options, with weighted average exercise prices of $20.00 and $21.94 per share for the nine months ended September 30, 2013 and 2012, respectively, were also excluded from diluted shares. Other equity awards of 2.8 million for the three months ended September 30, 2013, were excluded from diluted shares while other equity awards of 3.0 million and 3.5 million for the nine months ended September 30, 2013 and 2012, respectively, were excluded from diluted shares because including such shares would have been antidilutive.