Note 17 - Net Income Per Share (Notes)

6 Months Ended

Jun. 30, 2015

Net Income Per Share

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding, while diluted net income per share is computed by dividing net income attributable to common shareholders by the sum of the weighted average number of common shares outstanding and all dilutive potential common shares outstanding. Dilutive potential common shares relate to our stock-based compensation arrangements and our outstanding convertible senior notes. For all calculations, the determination of whether potential common shares are dilutive or anti-dilutive is based on net income from continuing operations.

The calculation of the basic and diluted net income per share was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except share and per share amounts)	2015		2014		2015		2014
Net income from continuing operations:
Net income from continuing operations - basic	$	45,193	$	103,537	$	136,920	$	249,517
Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1)	3,707		5,503		7,380		10,958
Net income from continuing operations - diluted	$	48,900	$	109,040	$	144,300	$	260,475

Net income:
Net income from continuing operations - basic	$	45,193	$	103,537	$	136,920	$	249,517
Income from discontinued operations, net of tax	4,855		71,296		5,385		128,075
Net income - basic	50,048		174,833		142,305		377,592
Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1)	3,707		5,503		7,380		10,958
Net income - diluted	$	53,755	$	180,336	$	149,685	$	388,550

Average common shares outstanding - basic	193,112		182,583		192,245		177,903
Dilutive effect of Convertible Senior Notes due 2017	12,438		7,599		11,789		8,306
Dilutive effect of Convertible Senior Notes due 2019	37,736		37,736		37,736		37,736
Dilutive effect of stock-based compensation arrangements (2)	3,364		2,861		3,211		2,822
Adjusted average common shares outstanding - diluted	246,650		230,779		244,981		226,767

Net income per share:

Basic:
Net income from continuing operations	$	0.23	$	0.57	$	0.71	$	1.40
Income from discontinued operations	0.03		0.39		0.03		0.72
Net income	$	0.26	$	0.96	$	0.74	$	2.12

Diluted:
Net income from continuing operations	$	0.20	$	0.47	$	0.59	$	1.15
Income from discontinued operations	0.02		0.31		0.02		0.56
Net income	$	0.22	$	0.78	$	0.61	$	1.71

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(1)	As applicable, includes coupon interest, amortization of discount and fees, and other changes in income or loss that would result from the assumed conversion.


(2)	The following number of shares of our common stock equivalents issued under our stock-based compensation arrangements were not included in the calculation of net income per share because they were anti-dilutive:



	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands)	2015	2014	2015	2014
Shares of common stock equivalents	264	1,484	530	1,484