Callaway 2015 Annual Report Download - page 90

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F-20
The following table summarizes the computation of basic and diluted earnings (loss) per share:
Years Ended December 31,
2015 2014 2013
(In thousands, except per share data)
Earnings (loss) per common share—basic
Net income (loss) ................................................................................................. $ 14,568 $ 16,008 $ (18,921)
Less: Preferred stock dividends ........................................................................... — — 3,332
Net income (loss) allocable to common shareholders ......................................... $ 14,568 $ 16,008 $ (22,253)
Weighted-average common shares outstanding—basic....................................... 83,116 77,559 72,809
Basic earnings (loss) per common share.............................................................. $ 0.18 $ 0.21 $ (0.31)
Earnings (loss) per common share—diluted
Net income (loss) ................................................................................................. $ 14,568 $ 16,008$
(18,921)
Less: Preferred stock dividends ........................................................................... — — 3,332
Net income (loss) allocable to common shareholders ......................................... $ 14,568 $ 16,008 $ (22,253)
Weighted-average common shares outstanding—basic....................................... 83,116 77,559 72,809
Options and restricted stock............................................................................ 1,495 826 —
Weighted-average common shares outstanding—diluted.................................... 84,611 78,385 72,809
Dilutive earnings (loss) per common share ......................................................... $ 0.17 $ 0.20 $ (0.31)
Earnings (loss) per share—diluted, reflects the potential dilution that could occur if convertible securities, or other
contracts to issue common stock, were exercised or converted into common stock. Options with an exercise price in excess
of the average market value of the Company's common stock during the period have been excluded from the calculation as
their effect would be antidilutive.
Antidilutive securities excluded from the earnings per share computation are summarized as follows:
• For the year ended December 31, 2015, securities outstanding totaling approximately 10,812,000, including
common shares underlying convertible senior notes of 10,248,000, in addition to antidilutive options and restricted
stock.
• For the year ended December 31, 2014, securities outstanding totaling approximately 16,000,000, including
common shares underlying convertible senior notes of 15,000,000, in addition to anti-dilutive options and restricted
stock.
• For the year ended December 31, 2013, securities outstanding totaling approximately 25,029,000, including
common shares underlying preferred stock of 4,293,000, and common shares underlying convertible senior notes
of 15,000,000, in addition to antidilutive options and restricted stock.
Note 6. Goodwill and Intangible Assets
Goodwill at December 31, 2015 decreased to $26,500,000 from $27,821,000 at December 31, 2014 due to $1,321,000
in foreign currency fluctuations. Gross goodwill before impairments at December 31, 2015 and 2014 was $28,249,000 and
$29,570,000, respectively.