Indemnity Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Indemnity Earnings Per Share

Note 3.  IndemnityEarnings Per Share

Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights.  Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 11. “Indemnity Capital Stock”.

Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans using the treasury stock method.

A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of Indemnity common stock:

	Indemnity Shareholder Interest
(dollars in millions, except per share data)	Three months ended March 31,
	2015					2014
	Allocated net income (numerator)		Weighted shares (denominator)	Per-share amount		Allocated net income (numerator)		Weighted shares (denominator)	Per-share amount
Class A – Basic EPS:
Income available to Class A stockholders	$	39	46,189,068	$	0.83	$	46	46,402,270	$	0.99
Dilutive effect of stock-based awards	0		344,884	—		0		95,141	—
Assumed conversion of Class B shares	0		6,100,800	—		0		6,100,800	—
Class A – Diluted EPS:
Income available to Class A stockholders on Class A equivalent shares	$	39	52,634,752	$	0.74	$	46	52,598,211	$	0.88
Class B – Basic and diluted EPS:
Income available to Class B stockholders	$	0	2,542	$	125	$	0	2,542	$	149