Blizzard 2005 Annual Report Download - page 75

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11. COMPUTATION OF EARNINGS PER SHARE
The฀following฀table฀sets฀forth฀the฀computations฀of฀basic฀and฀diluted฀earnings฀per฀share฀(amounts฀in฀thousands,฀except฀per฀share฀data):
Year ended March 31, 2005 2004 2003
Numerator:
฀ Numerator฀for฀basic฀and฀diluted฀earnings฀per฀share—income฀available฀to฀common฀shareholders $ 138,335 $ 77,715 $ 66,180
Denominator:
฀ Denominator฀for฀basic฀earnings฀per฀share—weighted฀average฀common฀shares฀outstanding 187,517 177,665 192,479
฀ Effect฀of฀dilutive฀securities:
฀ ฀ Employee฀stock฀options฀and฀stock฀purchase฀plan 20,660 14,723 13,704
฀ ฀ Warrants฀to฀purchase฀common฀stock 968 803 1,127
฀ ฀ Potential฀dilutive฀common฀shares 21,628 15,526 14,831
฀ ฀Denominator฀for฀diluted฀earnings฀per฀share—weighted฀average฀common฀shares฀outstanding฀฀
plus฀assumed฀conversions 209,145 193,191 207,310
Basic฀earnings฀per฀share $ 0.74 $ 0.44 $ 0.34
Diluted฀earnings฀per฀share $ 0.66 $ 0.40 $ 0.32
Options฀to฀purchase฀approximately฀182,000,฀12,628,000฀and฀10,399,000฀shares฀of฀common฀stock฀for฀the฀years฀ended฀March฀31,฀2005,฀2004฀and฀2003,฀respectively,฀were฀
not฀included฀in฀the฀calculation฀of฀diluted฀earnings฀per฀share฀because฀their฀effect฀would฀be฀antidilutive.
page 74
Activision, Inc. — 2005 Annual Report
Notes to Consolidated Financial Statements