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80
The following table sets forth the components of discontinued operations included in our Consolidated Statements of
Comprehensive Income:
Dollars in thousands
Years Ended December 31,
2013 2012 2011
Revenue:
Rubi, Crisp Market, Orango and Star Studio . . . . . . . . . . . . . . . . $ 4,399 $ 2,159 $ 1,326
Money Transfer Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 47,716
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,399 2,159 49,042
Pre-tax gain (loss) from discontinued operations:
Rubi, Crisp Market, Orango and Star Studio . . . . . . . . . . . . . . . . (54,395)(16,647)(13,129)
Money Transfer Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 654
Total pre-tax gain (loss) from discontinued operations . . . . . (54,395)(16,647)(12,475)
Loss on disposal activities:
Rubi, Crisp Market, Orango and Star Studio . . . . . . . . . . . . . . . . — — —
Money Transfer Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (11,070)
Total loss on disposal activities . . . . . . . . . . . . . . . . . . . . . . . — — (11,070)
Loss from discontinued operations before income tax . . . . . . . . . . . . . (54,395)(16,647)(23,545)
Income tax benefit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,096 6,425 4,494
Loss from discontinued operations, net of tax . . . . . . . . . . . . . . . . . . . $ (33,299)$ (10,222)$ (19,051)
Amount of goodwill and other intangible assets disposed . . . . . . . . . . $ — $ — $ 8,037
Cash generated from the sale of discontinued operations . . . . . . . . . . $ — $ — $ 8,220
Included in income tax benefit from discontinued operations in 2011 was $4.1 million related to the estimated current value of a
worthless stock deduction taken in 2009 in connection with our divestiture of the Entertainment Business, which was sold in
the third quarter of 2009.
NOTE 14: EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed by dividing the net income for the period by the weighted average number of
common shares outstanding during the period. Diluted EPS is computed by dividing the net income for the period by the
weighted average number of common and dilutive potential common shares outstanding during the period. We consider
restricted stock that provides the holder with a non-forfeitable right to receive dividends to be a participating security. Net
income available to participating securities was not material for the periods presented.
Net income used for calculating basic and diluted EPS is the same for all periods presented. The following table sets forth the
computation of shares used for the basic and diluted EPS calculations:
Years Ended December 31,
In thousands 2013 2012 2011
Weighted average shares used for basic EPS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,216 30,305 30,520
Dilutive effect of stock options and other share-based awards . . . . . . . . . . . . . . . 447 598 609
Dilutive effect of convertible debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 718 1,271 740
Weighted average shares used for diluted EPS . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,381 32,174 31,869
Stock options and share-based awards not included in diluted EPS calculation
because their effect would be antidilutive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 139 108