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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Unrealized gains reclassified out of accumulated other comprehensive loss related to the maturities and sales of available-for-sale securities
are included in "Other (expense) income, net" in the accompanying consolidated statement of operations. Unrealized gains reclassified out of
accumulated other comprehensive loss into other (expense) income, net for the year ended December 31, 2012 was $2.1 million .
NOTE 11—EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share attributable to IAC shareholders.
__________________________________________________________________
NOTE 12—STOCK-BASED COMPENSATION
IAC currently has three active plans under which awards have been granted. These plans cover stock options to acquire shares of IAC
Years Ended December 31,
2014
2013
2012
Basic
Diluted
Basic
Diluted
Basic
Diluted
(In thousands, except per share data)
Numerator:
Earnings from continuing operations
$
234,557
$
234,557
$
281,799
$
281,799
$
169,847
$
169,847
Net loss (earnings) attributable to noncontrolling
interests
5,643
5,643
2,059
2,059
(1,530
)
(1,530
)
Earnings from continuing operations attributable
to IAC shareholders
240,200
240,200
283,858
283,858
168,317
168,317
Earnings (loss) from discontinued operations
attributable to IAC shareholders
174,673
174,673
1,926
1,926
(9,051
)
(9,051
)
Net earnings attributable to IAC shareholders
$
414,873
$
414,873
$
285,784
$
285,784
$
159,266
$
159,266
Denominator:
Weighted average basic shares outstanding
83,292
83,292
83,480
83,480
86,247
86,247
Dilutive securities including stock options,
warrants and RSUs
(a)(b)
—
5,266
—
3,262
—
6,842
Denominator for earnings per share—weighted
average shares
(a)(b)
83,292
88,558
83,480
86,742
86,247
93,089
Earnings (loss) per share attributable to IAC shareholders:
Earnings per share from continuing operations
$
2.88
$
2.71
$
3.40
$
3.27
$
1.95
$
1.81
Discontinued operations
2.10
1.97
0.02
0.02
(0.10
)
(0.10
)
Earnings per share
$
4.98
$
4.68
$
3.42
$
3.29
$
1.85
$
1.71
(a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options
and vesting of restricted stock units ("RSUs"). For the years ended December 31, 2014 , 2013 and 2012 approximately 0.3 million , 0.4 million and 0.8 million shares,
respectively, related to potentially dilutive securities are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-
dilutive.
(b) Performance-based stock units ("PSUs") are included in the denominator for earnings per share if (i) the applicable performance condition(s) has been met and (ii) the
inclusion of the PSUs is dilutive for the respective reporting periods. For each of the years ended December 31, 2014 and 2012 less than 0.1 million PSUs that were
probable of vesting were excluded from the calculation of diluted earnings per share because the performance conditions had not been met. For the year ended
December 31, 2013 , all PSUs that were considered to be probable of vesting were included in the calculation of diluted earnings per share as their performance
conditions had been met.