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Table of Contents
NetSpend Holdings, Inc.
Notes to Consolidated Financial Statements (Continued)
December 31, 2008, 2009 and 2010
NOTE 14: EARNINGS PER SHARE (Continued)
NOTE 15: INCOME TAXES
The components of the provision for income taxes are as follows for the years ended December 31, 2008, 2009 and 2010:
95
Years Ended December 31,
2008 2009 2010
Common
Stock
Class B
Common
Stock Common
Stock
Class B
Common
Stock Common
Stock
Class B
Common
Stock
(in thousands of dollars, except share and per share data)
Weighted-average shares
outstanding used in basic
calculation
39,040
7,924
75,543
10,112
85,394
—
Weighted average effect of
dilutive securities:
Conversion of class B to
common stock
outstanding
—
—
10,112
—
—
—
Options
—
—
615
—
3,045
—
Warrants
—
—
370
—
384
—
Restricted stock
—
—
93
93
168
—
Weighted-average shares
outstanding used in
diluted calculation
39,040
7,924
86,733
10,205
88,991
—
Diluted earnings (loss) per
share
$
(0.74
)
$
(0.74
)
$
0.21
$
0.21
$
0.27
$
—
Year Ended December 31,
2008 2009 2010
(in thousands of dollars)
Income tax provision
Current
Federal
$
4,624
$
9,860
$
13,664
State
194
1,040
1,193
Total current
4,818
10,900
14,857
Deferred
Federal
2,516
1,614
(1,852
)
State
(27
)
(11
)
347
Total deferred
2,489
1,603
(1,505
)
Total provision
$
7,307
$
12,503
$
13,352