Capital One 2008 Annual Report Download - page 139

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121
Earnings Per Common Share
The following table sets forth the computation of basic and diluted earnings per common share:
Year Ended December 31
(Shares in Thousands) 2008
2007
2006
Numerator:
Income from continuing operations, net of tax ...............................................................
.
$ 84,517 $ 2,591,719 $ 2,426,377
Loss from discontinued operations, net of tax ................................................................
.
(130,515) (1,021,387) (11,884)
Net income (loss)............................................................................................................
.
$ (45,998) $ 1,570,332 $ 2,414,493
Preferred stock dividends and accretion of discount.......................................................
.
$ (32,723) $  $ 
Net income (loss) available to common shareholders.....................................................
.
$ (78,721) $ 1,570,332 $ 2,414,493
Denominator:
Denominator for basic earnings per share-Weighted-average shares .............................
.
376,282 390,287 309,584
Effect of dilutive securities (1):
Stock options .........................................................................................................
.
394 4,327 6,171
Contingently issuable shares .................................................................................
.
192
Restricted stock and units......................................................................................
.
991 739 1,268
Dilutive potential common shares...................................................................................
.
1,385 5,258 7,439
(Shares in Thousands)
Denominator for diluted earnings per share-Adjusted weighted-average shares...........
.
377,667 395,545 317,023
Basic earnings per share
Income from continuing operations ...............................................................................
.
$ 0.14 $ 6.64 $ 7.84
Loss from discontinued operations ................................................................................
.
(0.35 ) (2.62 ) (0.04 )
Net income (loss)...........................................................................................................
.
$ (0.21 ) $ 4.02 $ 7.80
Diluted earnings per share
Income from continuing operations ...............................................................................
.
$ 0.14 $ 6.55 $ 7.65
Loss from discontinued operations ................................................................................
.
(0.35) (2.58 ) (0.03)
Net income (loss)...........................................................................................................
.
$ (0.21) $ 3.97 $ 7.62
(1) Excluded from the computation of diluted earnings per share was 27.7 million, 7.4 million and 4.5 million securities during
2008, 2007 and 2006, respectively, because their inclusion would be antidilutive.