Airtran 2010 Annual Report Download - page 104
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December 31,
2010 2009
Unrecognized Tax Benefits at beginning of year $ 4,645 $ •
Additions for tax positions related to prior years • 4,645
Unrecognized Tax Benefits at end of year $ 4,645 $ 4,645
We do not anticipate any material change in the total amount of unrecognized tax benefits to occur within the next twelve
months. The total amount of unrecognized tax benefit, if recognized, would affect the effective tax rate.
Note 9 – Earnings (Loss) Per Common Share
The following table sets forth the computation of basic and diluted earnings (loss) per common share (in thousands,
except per share amounts):
Year ended December 31,
2010 2009 2008
Numerator:
Net income (loss) available to common stockholders $ 38,543 $134,662 $(266,334)
Plus income effect of assumed-conversion interest on 5.5% convertible debt 2,400 3,823 •
Plus income effect of assumed-conversion interest on 5.25% convertible notes 3,792 1,298 •
Income (loss) after assumed conversion $ 44,735 $139,783 $(266,334)
Denominator:
Weighted-average shares outstanding, basic 135,340 123,624 109,153
Effect of 5.5% convertible notes 18,099 18,099 •
Effect of 5.25% convertible notes 18,865 4,050 n/a
Effect of dilutive stock options 111 113 •
Effect of dilutive restricted shares 524 331 •
Effect of warrants to purchase common stock n/a 674 •
Adjusted weighted-average shares outstanding, diluted 172,939 146,891 109,153
Basic earnings (loss) per common share $ 0.28 $ 1.09 $ (2.44)
Diluted earnings (loss) per common share $ 0.26 $ 0.95 $ (2.44)
n/a – not applicable because the security was not outstanding during the period
Excluded from the diluted earnings per share calculation for 2010 are the impacts on the weighted average shares
outstanding of the following which would have been anti-dilutive in 2010 totaling 8.2 million shares: 4.6 million shares
related to our 7.0% convertible notes that would have been issuable upon conversion; 1.7 million shares related to our
outstanding stock options; and 1.9 million shares related to our unvested restricted stock and unvested performance share
awards.
Excluded from the diluted earnings per share calculation for 2009 are the impacts on the weighted average shares
outstanding of the following which would have been anti-dilutive in 2009 totaling 12.8 million shares: 9.4 million shares
related to our 7.0% convertible notes that would have been issuable upon conversion; 1.9 million shares related to our
outstanding stock options; and 1.5 million shares related to our unvested restricted stock and unvested performance share
awards.
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