Earnings Per Common Share of SEACOR

6 Months Ended

Jun. 30, 2013

Earnings Per Common Share of SEACOR [Abstract]

Earnings Per Common Share of SEACOR

EARNINGS PER COMMON SHARE OF SEACOR

Basic earnings per common share of SEACOR are computed based on the weighted average number of common shares issued and outstanding during the relevant periods. Diluted earnings per common share of SEACOR are computed based on the weighted average number of common shares issued and outstanding plus the effect of potentially dilutive securities through the application of the treasury stock and if-converted methods. Dilutive securities for this purpose assumes restricted stock grants have vested, common shares have been issued pursuant to the exercise of outstanding stock options and common shares have been issued pursuant to the conversion of all outstanding convertible notes.

Computations of basic and diluted earnings per common share of SEACOR were as follows (in thousands, except share data):

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	Net Income Attributable to SEACOR		Average O/S Shares	Per Share		Net Income Attributable to SEACOR		Average O/S Shares	Per Share
2013
Basic Weighted Average Common Shares Outstanding	$	19,271	19,825,229	$	0.97	$	8,397	19,782,318	$	0.42
Effect of Dilutive Share Awards:
Options and Restricted Stock(1)	—		366,558			—		332,586
Convertible Notes(2)	3,044		4,200,525			—		—
Diluted Weighted Average Common Shares Outstanding	$	22,315	24,392,312	$	0.91	$	8,397	20,114,904	$	0.42
2012
Basic Weighted Average Common Shares Outstanding	$	11,249	20,584,567	$	0.55	$	47,737	20,552,114	$	2.32
Effect of Dilutive Share Awards:
Options and Restricted Stock(1)	—		286,813			—		331,456
Diluted Weighted Average Common Shares Outstanding	$	11,249	20,871,380	$	0.54	$	47,737	20,883,570	$	2.29

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(1) For the three months ended June 30, 2013 and 2012, diluted earnings per common share of SEACOR excluded 355,490 and 593,344 of certain share awards, respectively, as the effect of their inclusion in the computation would be anti-dilutive. For the six months ended June 30, 2013 and 2012, diluted earnings per share of SEACOR excluded 503,726 and 531,101 of certain share awards, respectively, as the effect of their inclusion in the computation would be anti-dilutive.

(2) For the six months ended June 30, 2013, diluted earnings per common share of SEACOR excluded 4,200,525 common shares issuable pursuant to the Company's 2.5% Convertible Senior Notes as the effect of their inclusion in the computation would be anti-dilutive.