Green Dot 2015 Annual Report Download - page 91

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85
Note 13—Income Taxes (continued)
$5.8 million that can be carried forward indefinitely and other state business tax credits of approximately $0.9 million
that will expire 2025.
As of December 31, 2015 and 2014, we had a liability of $7.4 million and $6.2 million, respectively, for unrecognized
tax benefits related to various federal and state income tax matters excluding interest, penalties and related tax benefits.
The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is as follows:
Year Ended December 31,
2015 2014 2013
(In thousands)
Beginning balance $6,189 $3,724 $1,481
Increases related to positions taken during prior years 759 856 931
Increases related to positions taken during the current year 423 1,609 1,312
Ending balance $7,371 $6,189 $3,724
The total amount of unrecognized tax benefits that, if
recognized, would affect the effective tax rate $7,371 $6,189 $3,724
We recognized accrued interest and penalties related to unrecognized tax benefits for the years ended
December 31, 2015, 2014 and 2013, of approximately $0.2 million, $0.4 million and $0.3 million, respectively.
Note 14—Earnings per Common Share
In August 2013, the issued and outstanding shares of our Class B Common Stock declined to less than 10% of
the aggregate number of issued and outstanding shares of our Class A Common Stock and Class B Common Stock.
Pursuant to the terms of Article V of our Certificate of Incorporation, the issued and outstanding shares of our Class
B common stock automatically converted into shares of our Class A common stock. Following this automatic conversion,
there is now only a single class of our common stock outstanding.
The calculation of basic and diluted EPS was as follows:
Year Ended December 31,
2015 2014 2013
(In thousands, except per share data)
Basic earnings per Class A common share
Net income $38,415 $42,693 $34,040
Income attributable to preferred stock (1,102) (4,842) (5,360)
Income attributable to other classes of common stock (21)(349)(642)
Net income allocated to Class A common stockholders $37,292 $37,502 $28,038
Weighted-average Class A shares issued and outstanding 51,332 40,907 35,875
Basic earnings per Class A common share $0.73 $0.92 $0.78
Diluted earnings per Class A common share
Net income allocated to Class A common stockholders $37,292 $37,502 $28,038
Re-allocated earnings 11 94 172
Diluted net income allocated to Class A common stockholders $37,303 $37,596 $28,210
Weighted-average Class A shares issued and outstanding 51,332 40,907 35,875
Dilutive potential common shares:
Stock options 293 640 1,078
Restricted stock units 243 220 203
Employee stock purchase plan 73 —
Diluted weighted-average Class A shares issued and outstanding 51,875 41,770 37,156
Diluted earnings per Class A common share $0.72 $0.90 $0.76