Community Health Systems 2015 Annual Report Download - page 155
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COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
13. EARNINGS PER SHARE
The following table sets forth the components of the numerator and denominator for the computation of basic
and diluted earnings per share for income from continuing operations, discontinued operations and net income
attributable to Community Health Systems, Inc. common stockholders (in millions, except share data):
Year Ended December 31,
2015 2014 2013
Numerator:
Income from continuing operations, net of taxes ........$ 295 $ 260 $ 242
Less: Income from continuing operations attributable to
noncontrolling interests, net of taxes ............... 101 111 76
Income from continuing operations attributable to
Community Health Systems, Inc. common
stockholders — basic and diluted ..................$ 194 $ 149 $ 166
Loss from discontinued operations, net of taxes .........$ (36) $ (57) $ (25)
Less: Loss from discontinued operations attributable to
noncontrolling interests, net of taxes ............... - - -
Loss from discontinued operations attributable to
Community Health Systems, Inc. common
stockholders — basic and diluted ..................$ (36) $ (57) $ (25)
Denominator:
Weighted-average number of shares outstanding — basic . . . 114,454,674 111,579,088 92,633,332
Effect of dilutive securities:
Restricted stock awards ............................ 449,961 377,190 448,567
Employee stock options ........................... 357,188 578,395 714,560
Other equity-based awards ......................... 10,581 14,647 18,554
Weighted-average number of shares outstanding —
diluted ......................................... 115,272,404 112,549,320 93,815,013
Year Ended December 31,
2015 2014 2013
Dilutive securities outstanding not included in the computation
of earnings per share because their effect is antidilutive:
Employee stock options and restricted stock awards . . . 255,564 472,570 -
14. EQUITY INVESTMENTS
As of December 31, 2015, the Company owned equity interests of 27.5% in four hospitals in Las Vegas,
Nevada, and 26.1% in one hospital in Las Vegas, Nevada, in which Universal Health Services, Inc. owns the
majority interest, and an equity interest of 38.0% in three hospitals in Macon, Georgia, in which HCA Holdings,
Inc. “HCA” owns the majority interest.
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