Hertz 2009 Annual Report Download - page 182
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HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions
of dollars, except per share amounts):
Years ended December 31,
2009 2008 2007
Basic and diluted earnings (loss) per share:
Numerator:
Net income (loss) attributable to Hertz Global Holdings, Inc. and
Subsidiaries’ common stockholders ..................... $(126.0) $(1,206.7) $264.5
Denominator:
Weighted average shares used in basic computation .......... 371.5 322.7 321.2
Add: Stock options, RSUs and PSUs ...................... ——4.3
Weighted average shares used in diluted computation ......... 371.5 322.7 325.5
Earnings (loss) per share attributable to Hertz Global Holdings, Inc.
and Subsidiaries’ common stockholders, basic ............... $ (0.34) $ (3.74) $ 0.82
Earnings (loss) per share attributable to Hertz Global Holdings, Inc.
and Subsidiaries’ common stockholders, diluted .............. $ (0.34) $ (3.74) $ 0.81
Diluted earnings (loss) per share computations for the years ended December 31, 2009, 2008 and 2007
excluded the weighted-average impact of the assumed exercise of approximately 21.7 million,
17.6 million and 1.6 million stock options, RSUs and PSUs, respectively, because such impact would be
antidilutive. Additionally, for the year ended December 31, 2009, there was no impact to the earnings
(loss) per share computations associated with the Convertible Senior Notes, because such impact
would be anti-dilutive.
Note 15—Quarterly Financial Information (Unaudited)
A summary of the quarterly operating results during 2009 and 2008 were as follows (in millions of dollars,
except per share data):
First Second Third Fourth
Quarter Quarter Quarter Quarter
2009 2009 2009 2009
Revenues .......................... $1,564.9 $1,754.5 $2,041.4 $ 1,740.7
Income (loss) before income taxes .......... (210.0)(1)(2)(3) 30.7(1)(2)(3)(5) 75.8(1)(2)(3) (67.4)(1)(2)(3)(6)
Net income (loss) attributable to Hertz
Holdings, Inc. and Subsidiaries’ common
stockholders ....................... (163.5)(4) 3.9(4) 64.5(4) (30.9)(4)
Earnings (loss) per share, basic ............ $ (0.51) $ 0.01 $ 0.16 $ (0.08)
Earnings (loss) per share, diluted ........... $ (0.51) $ 0.01 $ 0.15 $ (0.08)
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