Hertz 2011 Annual Report Download - page 172

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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,
2011 2010 2009
Basic and diluted earnings (loss) per share:
Numerator:
Net income (loss) attributable to Hertz Global Holdings, Inc. and
Subsidiaries’ common stockholders ....................... $176.2 $ (48.7) $(129.5)
Denominator:
Weighted average shares used in basic computation ............ 415.9 411.9 371.5
Add: Stock options, RSUs and PSUs ........................ 7.5 — —
Add: Potential issuance of common stock upon conversion of
Convertible Senior Notes ............................... 21.4 — —
Weighted average shares used in diluted computation ........... 444.8 411.9 371.5
Earning (loss) per share attributable to Hertz Global Holdings, Inc. and
Subsidiaries’ common stockholders, basic .................... $ 0.42 $ (0.12) $ (0.35)
Earnings (loss) per share attributable to Hertz Global Holdings, Inc.
and Subsidiaries’ common stockholders, diluted ............... $ 0.40 $ (0.12) $ (0.35)
Diluted earnings (loss) per share computations for the years ended December 31, 2011, 2010 and 2009
excluded the weighted-average impact of the assumed exercise of approximately 8.7 million,
22.6 million and 21.7 million shares, respectively, of stock options, RSUs and PSUs because such
impact would be antidilutive. Additionally, for the years ended December 31, 2010 and 2009, there was
no impact to the diluted loss per share computations associated with the Convertible Senior Notes,
because such impact would be antidilutive.
Note 16—Quarterly Financial Information (Unaudited)
Provided below is a summary of the quarterly operating results during 2011 and 2010 (in millions of
dollars, except per share data).
Earnings per share amounts are computed independently each quarter. As a result, the sum of each
quarter’s per share amount may not equal the total per share amount for the respective year.
First Second Third Fourth
Quarter Quarter Quarter Quarter
2011 2011 2011 2011
Revenues ................................. $1,780.0 $2,072.3 $2,432.3 $2,013.8
Income (loss) before income taxes ............... (158.9) 94.6 295.7 92.8
Net income (loss) attributable to Hertz Global
Holdings, Inc. and Subsidiaries’ common
stockholders .............................. (132.6) 55.0 206.7 47.0
Earnings (loss) per share, basic ................. $ (0.32) $ 0.13 $ 0.50 $ 0.11
Earnings (loss) per share, diluted ................ $ (0.32) $ 0.12 $ 0.47 $ 0.11
146