iHeartMedia 2010 Annual Report Download - page 112
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CLEAR CHANNEL CAPITAL I, LLC AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
R
econciliation of Earnings per Share
103
(In thousands, except per share data)
Pre-Mer
g
er
Period from
January 1
through July 30,
2008
NUMERATOR:
Net income attributable to the Com
p
an
y
–
common shares
$ 1,036,525
Less: Partici
p
atin
g
securities dividends
—
Less: Income from discontinued o
p
erations, net
640,236
Income from continuin
g
o
p
erations attributable to the Com
p
an
y
396,289
Less: Income from continuing operations attributable to the Company
–
unvested shares
2,333
Income from continuing operations attributable to the Company per common
share
–
basic and diluted
$393,956
DENOMINATOR:
Wei
g
hted avera
g
e common shares - basic
495,044
Effect of dilutive securities:
Stock o
p
tions and common stock warrants (1)
1,475
Denominator for net income
p
er common share
–
diluted
496,519
Net income
p
er common share:
Basic:
Income attributable to the Com
p
an
y
before discontinued o
p
erations
$.80
Discontinued o
p
erations
1.29
Net income attributable to the Com
p
an
y
$2.09
Diluted:
Income attributable to the Com
p
an
y
before discontinued o
p
erations
$.80
Discontinued o
p
erations
1.29
Net income attributable to the Com
p
an
y
$2.09
(1) 7.6 million stock options were outstanding at July 30, 2008 that were not included in the computation of diluted earnings per
share because to do so would have been anti-dilutive as the respective options’ strike price was greater than the current market
p
rice of the shares.