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EARNINGS PER COMMON SHARE (Tables)
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per share:

 

In thousands, except share and per share data

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015 (Restated)

 

 

2016

 

 

2015 (Restated)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Stericycle, Inc.

 

$

46,034

 

 

$

87,830

 

 

$

122,820

 

 

$

116,770

 

Less: mandatory convertible preferred stock dividend

 

 

10,021

 

 

 

—

 

 

 

20,127

 

 

 

—

 

Less: gain on repurchase of preferred stock

 

 

(1,280

)

 

 

—

 

 

 

(1,280

)

 

 

—

 

Numerator for basic earnings per share attributable to Stericycle, Inc. common shareholders

 

$

37,293

 

 

$

87,830

 

 

$

103,973

 

 

$

116,770

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share-weighted average shares

 

 

84,893,263

 

 

 

84,961,907

 

 

 

84,799,131

 

 

 

85,000,723

 

Effect of diluted securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock based awards

 

 

867,423

 

 

 

1,259,127

 

 

 

999,761

 

 

 

1,292,093

 

Mandatory convertible preferred stock (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises

 

 

85,760,686

 

 

 

86,221,034

 

 

 

85,798,892

 

 

 

86,292,816

 

Earnings per share – Basic

 

$

0.44

 

 

$

1.03

 

 

$

1.23

 

 

$

1.37

 

Earnings per share – Diluted

 

$

0.43

 

 

$

1.02

 

 

$

1.21

 

 

$

1.35

 

 

(1)

The weighted average common shares issuable upon the assumed conversion of the mandatory convertible preferred stock totaling 5,624,139 and 5,637,757 shares for the three and six months ended June 30, 2016, respectively, were excluded from the computation of diluted earnings per share as such conversion would have been antidilutive.