Freddie Mac 2008 Annual Report Download - page 273

weighted average of non-vested restricted shares and non-vested restricted stock units. Such items are excluded from the
weighted average common shares outstanding — basic.
Table 20.1 — Earnings (Loss) Per Common Share — Basic and Diluted
2008 2007 2006
Year Ended December 31,
(dollars in millions, except
per share amounts)
Net income (loss) . . . . . . . . . . . . . . . . ............................................. $ (50,119) $ (3,094) $ 2,327
Preferred stock dividends and issuance costs on redeemed preferred stock ....................... (675) (404) (270)
Amounts allocated to participating security option holders
(1)
................................ (1) (5) (6)
Net income (loss) available to common stockholders — basic
(2)
.............................. $ (50,795) $ (3,503) $ 2,051
Weighted average common shares outstanding — basic
(3)
(in thousands) . ....................... 1,468,062 651,881 680,856
Dilutive potential common shares (in thousands) ....................................... — — 1,808
Weighted average common shares outstanding — diluted (in thousands). . ....................... 1,468,062 651,881 682,664
Basic earnings (loss) per common share . ............................................. $ (34.60) $ (5.37) $ 3.01
Diluted earnings (loss) per common share ............................................. $ (34.60) $ (5.37) $ 3.00
Antidilutive potential common shares excluded from the computation of dilutive potential common shares
(in thousands) .............................................................. 10,611 8,580 1,892
(1) Represents distributed earnings during periods of net losses.
(2) Includes distributed and undistributed earnings to common stockholders.
(3) Includes the weighted average number of shares during 2008 that is associated with the warrant for our common stock issued to Treasury as part of the
Purchase Agreement. This warrant is included in shares outstanding — basic, since it is unconditionally exercisable by the holder at a minimal cost of
$.00001 per share.
END OF CONSOLIDATED FINANCIAL STATEMENTS AND ACCOMPANYING NOTES
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