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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Disclosure Text Block  
Earnings per Share

5. Earnings Per Share

 

Basic earnings per share attributable to U.S. Cellular shareholders is computed by dividing Net income attributable to U.S. Cellular shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to U.S. Cellular shareholders is computed by dividing Net income attributable to U.S. Cellular shareholders by the weighted average number of common shares outstanding during the period adjusted to include the effects of potentially dilutive securities. Potentially dilutive securities primarily include incremental shares issuable upon exercise of outstanding stock options and the vesting of restricted stock units.

 

The amounts used in computing Earnings per Common and Series A Common Share and the effects of potentially dilutive securities on the weighted average number of Common and Series A Common Shares are as follows:

  Three Months Ended
  March 31,
  2012 2011
(Dollars and shares in thousands, except per share amounts)       
Net income attributable to U.S. Cellular shareholders$62,492  $35,161 
         
Weighted average number of shares used in basic earnings per share 84,570   85,484 
Effects of dilutive securities:       
 Stock options 135   177 
 Restricted stock units 428   440 
Weighted average number of shares used in diluted earnings per share 85,133   86,101 
         
Basic earnings per share attributable to U.S. Cellular shareholders$0.74  $0.41 
         
Diluted earnings per share attributable to U.S. Cellular shareholders$0.73  $0.41 

Certain Common Shares issuable upon the exercise of stock options or vesting of restricted stock units were not included in average diluted shares outstanding for the calculation of Diluted earnings per share because their effects were antidilutive. The number of such Common Shares excluded is shown in the table below.

 Three Months Ended
  March 31,
  2012 2011
(Shares in thousands)   
Stock options1,444 1,055
     
Restricted stock units — 1