Huntington National Bank 2009 Annual Report Download - page 176

Repurchase Pro
g
ram for the
y
ear ended December 31, 2009. On Februar
y
18, 2009, the board of directors
terminated the previousl
y
authorized pro
g
ram for the repurchase of up to 1
5
million shares of common stoc
k
(the 200
6
Repurchase Pro
g
ram).
17.
(
LOSS
)
EARNINGS PER SHARE
Bas
i
c(
l
oss) earn
i
n
g
s per s
h
are
i
st
h
e amount o
f
(
l
oss) earn
i
n
g
s(a
dj
uste
df
or
di
v
id
en
d
s
d
ec
l
are
d
on
pre
f
erre
d
stoc
k
)ava
il
a
bl
e to eac
h
s
h
are o
f
common stoc
k
outstan
di
n
gd
ur
i
n
g
t
h
e report
i
n
g
per
i
o
d
.D
il
ute
d
(
l
oss) earn
i
n
g
s per s
h
are
i
st
h
e amount o
f
(
l
oss) earn
i
n
g
sava
il
a
bl
e to eac
h
s
h
are o
f
common stoc
k
outstan
di
n
g
durin
g
the reportin
g
period ad
j
usted to include the effect of potentiall
y
dilutive common shares. Potentiall
y
dilutive common shares include incremental shares issued for stock o
p
tions, restricted stock units, distribution
s
f
rom
d
e
f
erre
d
compensat
i
on p
l
ans, an
d
t
h
e convers
i
on o
f
t
h
e Compan
y
’s convert
ibl
e pre
f
erre
d
stoc
k
an
d
w
arrants (See Note 1
6
). Potentiall
y
dilutive common shares are excluded from the computation of diluted
earn
i
n
g
s per s
h
are
i
n per
i
o
d
s
i
nw
hi
c
h
t
h
ee
ff
ect wou
ld b
e ant
idil
ut
i
ve. For
dil
ute
d
(
l
oss) earn
i
n
g
s per s
h
are
,
net (loss) income available to common shares can be affected b
y
the conversion of the Compan
y
’s convertibl
e
p
referred stock. Where the effect of this conversion would be dilutive, net (loss) income available to common
s
h
are
h
o
ld
ers
i
sa
dj
uste
dby
t
h
e assoc
i
ate
d
pre
f
erre
ddi
v
id
en
d
s. T
h
eca
l
cu
l
at
i
on o
fb
as
i
can
d dil
ute
d
(
l
oss
)
earn
i
n
g
s per s
h
are
f
or eac
h
o
f
t
h
et
h
ree
y
ears en
d
e
d
Decem
b
er 31 was as
f
o
ll
ows
:
2009 2008 200
7
Year Ended December
31,
(
In thousands, exce
p
t
p
er share amounts
)
Basic
(
loss
)
earnin
g
s per common shar
e
Net
(l
oss
)i
ncom
e
................................
$
(3
,
094
,
179
)
$(
113,806
)$
75,169
Pre
f
erre
d
stoc
k divid
en
d
san
d
amort
i
zat
i
on o
fdi
scoun
t
.....
(
174
,
756
)
(
4
6
,400
)
—
Net
(l
oss
)i
ncome ava
il
a
bl
e to common s
h
are
h
o
ld
er
s
....
$(3
,
268
,
935
)
$(
160,206
)$
75,169
Avera
g
e common shares issued and outstandin
g
..........
5
32,802
366
,
1
55
300
,
90
8
B
asic (loss) earnin
g
s per common shar
e
..............
$
(
6.14
)
$
(
0.44
)
$ 0.2
5
Diluted (loss) earnin
g
s per common shar
e
Net
(l
oss
)i
ncome ava
il
a
bl
e to common s
h
are
h
o
ld
er
s
......
$
(3
,
268
,
935
)
$(
160,206
)$
75,16
9
Net (
l
oss)
i
ncome app
li
ca
bl
eto
dil
ute
d
earn
i
n
g
spe
r
s
h
ar
e
......................................
$
(3
,
268
,
935
)
$(
160,206
)$
75,169
Avera
g
e common shares issued and outstandin
g
..........
5
32,802
366
,
1
55
300
,
90
8
Dilutive
p
otential common shares
:
S
tock o
p
tions and restricted stock unit
s
..............
—
—1
,
88
7
S
h
ares
h
e
ld i
n
d
e
f
erre
d
com
p
ensat
i
on
pl
ans
...........
—
—
660
D
il
ut
i
ve
p
otent
i
a
l
common s
h
ares
:
....................
—
—2
,5
4
7
Tota
l dil
ute
d
avera
g
e common s
h
ares
i
ssue
d
an
d
outstan
di
n
g
.................................
5
32,802
366
,
1
55
303
,
4
55
Diluted
(
loss
)
earnin
g
s per common shar
e
............
$
(
6.14
)
$(
0.44
)$
0.2
5
Due to t
h
e
l
oss attr
ib
uta
bl
e to common s
h
are
h
o
ld
ers
f
or t
h
e
y
ears en
d
e
d
Decem
b
er 31, 2009 an
d
2008, n
o
potent
i
a
lly dil
ut
i
ve s
h
ares are
i
nc
l
u
d
e
di
n
l
oss per s
h
are ca
l
cu
l
at
i
ons
f
or t
h
ose
y
ears as
i
nc
l
u
di
n
g
suc
h
s
h
are
s
in the calculation would reduce the reported loss per share. Approximatel
y
23.7 million, 2
6
.3 million an
d
14.9 million options to purchase shares of common stock outstandin
g
at the end of 2009, 2008, and 2007,
respect
i
ve
ly
, were not
i
nc
l
u
d
e
di
nt
h
e computat
i
on o
f dil
ute
d
earn
i
n
g
s per s
h
are
b
ecause t
h
ee
ff
ect wou
ld be
antidilutive. The wei
g
hted avera
g
e exercise price for these options was
$
19.71 per share,
$
19.45 per share, an
d
$
23.20
p
er share at the end of each res
p
ective
p
eriod.
1
68