Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 10 – 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)	2014		2013		2014		2013
Income/(loss) from continuing operations	$	49,749	$	(103,149)	$	180,159	$	(13,375)
Income/(loss) from discontinued operations, net of tax		-		123		-		554
Net income/(loss)		49,749		(103,026)		180,159		(12,821)
Net income attributable to noncontrolling interest		2,875		2,875		8,547		8,531
Net income/(loss) attributable to controlling interest		46,874		(105,901)		171,612		(21,352)
Preferred stock dividends		1,550		1,550		4,650		4,288
Net income/(loss) available to common shareholders	$	45,324	$	(107,451)	$	166,962	$	(25,640)
Income/(loss) from continuing operations	$	49,749	$	(103,149)	$	180,159	$	(13,375)
Net income attributable to noncontrolling interest		2,875		2,875		8,547		8,531
Preferred stock dividends		1,550		1,550		4,650		4,288
Net income/(loss) from continuing operations available to common shareholders	$	45,324	$	(107,574)	$	166,962	$	(26,194)

The component of Income/(loss) from continuing operations attributable to FHN as the controlling interest holder was $46.9 million and $(106.0) million during the three months ended September 30, 2014 and 2013, respectively, and $171.6 million and $(21.9)million during the nine months ended September 30, 2014 and 2013, 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)	2014		2013		2014		2013
Weighted average common shares outstanding - basic	235,329			236,895		235,437		238,990
Effect of dilutive securities		1,533		-		1,732		-
Weighted average common shares outstanding - diluted	236,862			236,895		237,169		238,990

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:	2014		2013		2014		2013
Income/(loss) per share from continuing operations available to common shareholders	$	0.19	$	(0.45)	$	0.71	$	(0.11)
Net income/(loss) per share available to common shareholders	$	0.19	$	(0.45)	$	0.71	$	(0.11)
Diluted earnings/(loss) per common share:
Diluted income/(loss) per share from continuing operations available to common shareholders	$	0.19	$	(0.45)	$	0.70	$	(0.11)
Diluted income/(loss) per share available to common shareholders	$	0.19	$	(0.45)	$	0.70	$	(0.11)

For the three and nine months ended September 30, 2014, the dilutive effect for all potential common shares was 1.5 million and 1.7 million, respectively. Stock options of 4.3 million and 9.4 million with weighted average exercise prices of $22.74 and $19.55 per share for the three months ended September 30, 2014 and 2013, respectively, were excluded from diluted shares because including such shares would be antidilutive. Stock options of 4.6 million and 9.8 million with weighted average exercise prices of $23.79 and $20.00 per share for the nine months ended September 30, 2014 and 2013, respectively, were also excluded from diluted shares. For the three and nine months ended September 30, 2013, all potential common shares were antidilutive due to the net loss attributable to common shareholders for these periods.