3. Earnings Per Share and Dividends

a. Earnings Per Share

The Company calculates its basic earnings per share by dividing net income attributable to Jabil Circuit, Inc. by the weighted average number of common shares outstanding during the period. The Company’s diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities. To the extent these securities are anti-dilutive, they are excluded from the calculation of diluted earnings per share. The following table sets forth the calculations of basic and diluted earnings per share attributable to the stockholders of Jabil Circuit, Inc. (in thousands, except earnings per share data):


	Three months ended						Six months ended
	February 28, 2014			February 28, 2013			February 28, 2014		February 28, 2013
Numerator:
(Loss) income from continuing operations, net of tax	$	(32,265	)	$	75,292		$	69,377	$	165,968
Net income (loss) attributable to noncontrolling interests, net of tax		151			(444	)		294		(707	)

(Loss) income from continuing operations attributable to Jabil Circuit, Inc., net of tax	$	(32,416	)	$	75,736		$	69,083	$	166,675
(Loss) income from discontinued operations attributable to Jabil Circuit, Inc., net of tax	$	(6,251	)	$	12,797		$	10,172	$	27,705

Net (loss) income attributable to Jabil Circuit, Inc.	$	(38,667	)	$	88,533		$	79,255	$	194,380


Denominator for basic and diluted earnings per share:
Denominator for basic earnings per share		205,251			202,458			205,005		203,393

Dilutive common shares issuable under the employee stock purchase plan and upon exercise of stock options and stock appreciation rights		—			53			120		77
Dilutive unvested restricted stock awards		—			4,293			1,767		4,004

Denominator for diluted earnings per share		205,251			206,804			206,892		207,474

(Loss) earnings per share attributable to the stockholders of Jabil Circuit, Inc.:
Basic:
(Loss) income from continuing operations, net of tax	$	(0.16	)	$	0.37		$	0.34	$	0.82

(Loss) income from discontinued operations, net of tax	$	(0.03	)	$	0.06		$	0.05	$	0.14

Net (loss) income.	$	(0.19	)	$	0.44		$	0.39	$	0.96

Diluted:
(Loss) income from continuing operations, net of tax	$	(0.16	)	$	0.37		$	0.33	$	0.80

(Loss) income from discontinued operations, net of tax	$	(0.03	)	$	0.06		$	0.05	$	0.13

Net (loss) income.	$	(0.19	)	$	0.43		$	0.38	$	0.94

No potential common shares relating to outstanding stock awards have been included in the computation of diluted earnings per share as a result of the Company’s net loss for the three months ended February 28, 2014. The Company accordingly excluded from the computation of diluted earnings per share 3,737,859 restricted stock awards, options to purchase 1,721,068 shares of common stock and 4,172,787 stock appreciation rights for the three months ended February 28, 2014. For the six months ended February 28, 2014 options to purchase 2,159,270 shares of common stock and 4,200,998 stock appreciation rights were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive. For the three months and six months ended February 28, 2013 options to purchase 3,695,450 and 3,718,067 shares of common stock, respectively, and 4,551,902 and 4,578,718 stock appreciation rights, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive.

b. Dividends

The following table sets forth certain information relating to the Company’s cash dividends declared to common stockholders of the Company during the six months ended February 28, 2014 and 2013 (in thousands, except for per share data):


	Dividend Declaration Date	Dividend per Share		Total Cash Dividends Declared		Date of Record for Dividend Payment	Dividend Cash Payment Date
Fiscal year 2014:	October 17, 2013	$	0.08	$	17,221	November 15, 2013	December 2, 2013
	January 22, 2014	$	0.08	$	16,976	February 14, 2014	March 3, 2014

Fiscal year 2013:	October 16, 2012	$	0.08	$	16,962	November 15, 2012	December 3, 2012
	January 23, 2013	$	0.08	$	16,990	February 15, 2013	March 1, 2013