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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Disclosure Text Block  
Earnings per Share

4. Earnings Per Share

 

Basic earnings (loss) per share attributable to U.S. Cellular shareholders is computed by dividing Net income (loss) attributable to U.S. Cellular shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share attributable to U.S. Cellular shareholders is computed by dividing Net income (loss) 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 (loss) per common share and the effects of potentially dilutive securities on the weighted average number of common shares were as follows:

  Three Months Ended Six Months Ended
  June 30, June 30,
  2014 2013 2014 2013
(Dollars and shares in thousands, except per share amounts)           
Net income (loss) attributable to U.S. Cellular shareholders$ (18,789) $ 143,391 $ 693 $ 148,305
             
Weighted average number of shares used in basic earnings (loss) per share  84,341   83,845   84,277   83,842
Effects of dilutive securities:           
 Stock options  -   226   193   201
 Restricted stock units  -   590   571   612
Weighted average number of shares used in diluted earnings (loss) per share  84,341   84,661   85,041   84,655
             
Basic earnings (loss) per share attributable to U.S. Cellular shareholders$ (0.22) $ 1.71 $ 0.01 $ 1.77
             
Diluted earnings (loss) per share attributable to U.S. Cellular shareholders$ (0.22) $ 1.69 $ 0.01 $ 1.75

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 (loss) per share attributable to U.S. Cellular shareholders because their effects were antidilutive. The number of such Common Shares excluded, if any, is shown in the table below.

  Three Months Ended Six Months Ended
  June 30, June 30,
  2014 2013 2014 2013
(Shares in thousands)       
Stock options 3,559  2,437  1,820  2,041
         
Restricted stock units 1,191  208  141  221