iHeartMedia 2000 Annual Report Download - page 79

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79
Reconciliation of Earnings per Share
(In thousands, except per share data)
2000 1999 1998
NUMERATOR:
Net income before extraordinary item $ 248,808 $ 85,655 $ 54,031
Extraordinary item — (13,185) —
Net income 248,808 72,470 54,031
Effect of dilutive securities:
Eller put/call option agreement (2,300) (4,299)
Convertible debt – 2.625% issued in 1998 9,811 * 9,811 * 7,358
Convertible debt – 1.5% issued in 1999 9,750 * 964 *
LYONs - 1996 issue (311)
LYONs – 1998 issue 4,595 * 2,944 *
Less: Anti-dilutive items (24,156) (13,719) —
(2,611) 3,059
Numerator for net income per
common share - diluted $ 248,808 $ 69,859 $ 57,090
DENOMINATOR:
Weighted average common shares 423,969 312,610 236,060
Effect of dilutive securities:
Stock options and common stock warrants 10,872 8,395 4,098
Eller put/call option agreement 847 1,972
Convertible debt – 2.625% issued in 1998 9,282 * 9,282 * 6,993
Convertible debt – 1.5% issued in 1999 9,454 * 927 *
LYONs - 1996 issue 3,870 2,556
LYONs – 1998 issue 3,085 * 2,034 *
Less: Anti-dilutive items (21,821) (12,243) —
14,742 11,798 13,063
Denominator for net income
per common share - diluted 438,711 324,408 249,123
Net income per common share:
Basic:
Net income before extraordinary item .59 $ .27 $ .23
Extraordinary item — (.04) —
Net income $ .59 $ .23 $ .23
Diluted:
Net income before extraordinary item .57 $ .26 $ .22
Extraordinary item — (.04) —
Net income $ .57 $ .22 $ .22
* Denotes items that are anti-dilutive to the calculation of earnings per share.