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Earnings per Share
 9 Months Ended
Jun. 30, 2015
Earnings per Share  
Earnings per Share

 

 

11.Earnings per Share

 

The following table sets forth the computations of basic and diluted EPS, 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.

 

 

 

Three Months Ended
June 30,

 

Nine Months Ended
June 30,

 

(in thousands, except per-share amounts)

 

2014

 

2015

 

2014

 

2015

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$
11,124

 

$
23,118

 

$
(517

)

$
5,281

 

Income from continuing operations attributable to non-controlling interest

 
(389

)
(191

)
(619

)
(695

)

Adjustment of estimated redemption value of non-controlling interest

 
(158

)
0

 
(158

)
0

 

 

 

 

 

 

 

 

 

 

 

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

 
10,577

 
22,927

 
(1,294

)
4,586

 

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

 
(231

)
(110

)
(106

)
(387

)

 

 

 

 

 

 

 

 

 

 

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

 

$
10,346

 

$
22,817

 

$
(1,400

)

$
4,199

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

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

 
73,206

 
73,658

 
73,131

 
73,553

 

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

 
1,380

 
2,386

 
0

 
2,146

 

 

 

 

 

 

 

 

 

 

 

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

 
74,586

 
76,044

 
73,131

 
75,699

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share attributable to Headwaters Incorporated:

 

 

 

 

 

 

 

 

 

From continuing operations

 

$
0.14

 

$
0.31

 

$
(0.02

)

$
0.06

 

From discontinued operations

 
0.00

 
0.00

 
0.00

 
0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

$
0.14

 

$
0.31

 

$
(0.02

)

$
0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share attributable to Headwaters Incorporated:

 

 

 

 

 

 

 

 

 

From continuing operations

 

$
0.14

 

$
0.30

 

$
(0.02

)

$
0.06

 

From discontinued operations

 
0.00

 
0.00

 
0.00

 
0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

$
0.14

 

$
0.30

 

$
(0.02

)

$
0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities not considered in diluted EPS calculation:

 

 

 

 

 

 

 

 

 

Stock-settled SARs

 
691

 
160

 
3,836

 
1,625

 

Stock options

 
377

 
72

 
530

 
94

 

Restricted stock

 
0

 
0

 
253

 
88