Salesforce.com 2016 Annual Report Download - page 120
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9. Earnings/Loss Per Share
Basic earnings/loss per share is computed by dividing net income (loss) by the weighted-average number of
common shares outstanding for the fiscal period. Diluted earnings/loss per share is computed by giving effect to
all potential weighted average dilutive common stock, including options, restricted stock units, warrants and the
convertible senior notes. The dilutive effect of outstanding awards and convertible securities is reflected in
diluted earnings per share by application of the treasury stock method. Diluted loss per share for fiscal 2016,
2015 and 2014 are the same as basic loss per share as there is a net loss in these periods and inclusion of
potentially issuable shares is anti-dilutive.
A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows
(in thousands):
Fiscal Year Ended January 31,
2016 2015 2014
Numerator:
Net loss ................................... $(47,426) $(262,688) $(232,175)
Denominator:
Weighted-average shares outstanding for basic loss
per share ................................. 661,647 624,148 597,613
Effect of dilutive securities:
Convertible senior notes .................. 0 0 0
Employee stock awards ................... 0 0 0
Warrants ............................... 0 0 0
Adjusted weighted-average shares outstanding and
assumed conversions for diluted loss per share . . . 661,647 624,148 597,613
The weighted-average number of shares outstanding used in the computation of basic and diluted
earnings/loss per share does not include the effect of the following potential outstanding common stock. The
effects of these potentially outstanding shares were not included in the calculation of diluted earnings/loss per
share because the effect would have been anti-dilutive (in thousands):
Fiscal Year Ended January 31,
2016 2015 2014
Employee Stock awards .............................. 26,615 22,157 19,664
Convertible senior notes .............................. 17,309 25,953 43,965
Warrants .......................................... 17,309 37,517 44,253
10. Commitments
Letters of Credit
As of January 31, 2016, the Company had a total of $81.9 million in letters of credit outstanding
substantially in favor of certain landlords for office space. These letters of credit renew annually and expire at
various dates through December 2030.
Leases
The Company leases facilities space and certain fixed assets under non-cancelable operating and capital
leases with various expiration dates.
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