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Earnings per Share
 12 Months Ended
Sep. 30, 2014
Earnings per Share  
Earnings per Share

12. Earnings Per Share

        The following table sets forth the computations of basic and diluted EPS for the years indicated, reflecting the amounts attributable to Headwaters and excluding the amounts attributable to the non-controlling interest in Entegra. In accordance with ASC 260, income (loss) from continuing operations for each period is used as the control number in determining whether potentially dilutive common shares should be included in the diluted earnings per share computations for those periods, even when the effect of doing so is anti-dilutive to the other per-share amounts.

                                                                                                                                                                                    

(in thousands, except per-share amounts)

 

2012

 

2013

 

2014

 

Numerator:

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$
(26,429

)

$
8,285

 

$
16,473

 

Income from continuing operations attributable to non-controlling interest

 

 
0

 

 
0

 

 
(774

)

Adjustment of estimated redemption value of non-controlling interest

 

 
0

 

 
0

 

 
(176

)

 

 

 

 

 

 

 

 

Numerator for basic and diluted earnings per share from continuing operations—income (loss) from continuing operations attributable to Headwaters Incorporated

 

 
(26,429

)

 
8,285

 

 
15,523

 

Numerator for basic and diluted earnings per share from discontinued operations—income (loss) from discontinued operations, net of income taxes

 

 
(35,819

)

 
(1,148

)

 
(415

)

 

 

 

 

 

 

 

 

Numerator for basic and diluted earnings per share—net income (loss) attributable to Headwaters Incorporated

 

$
(62,248

)

$
7,137

 

$
15,108

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share—weighted-average shares outstanding

 

 
60,894

 

 
70,128

 

 
73,160

 

Effect of dilutive securities—shares issuable upon exercise of options and SARs and vesting of restricted stock

 

 
0

 

 
1,124

 

 
1,291

 

 

 

 

 

 

 

 

 

Denominator for diluted earnings per share—weighted-average shares outstanding after assumed exercises and vesting

 

 
60,894

 

 
71,252

 

 
74,451

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted income (loss) per share from continuing operations

 

$
(0.43

)

$
0.12

 

$
0.21

 

Basic and diluted income (loss) per share from discontinued operations

 

 
(0.59

)

 
(0.02

)

 
(0.01

)

 

 

 

 

 

 

 

 

Basic and diluted income (loss) per share

 

$
(1.02

)

$
0.10

 

$
0.20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities not considered in diluted EPS calculation:

 

 

 

 

 

 

 

 

 

 

SARs

 

 
2,957

 

 
2,479

 

 
2,279

 

Stock options

 

 
1,356

 

 
906

 

 
446

 

Restricted stock

 

 
82

 

 
105

 

 
126