Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

13. Earnings Per Share

Telesat has awarded employee stock options, which, if exercised, would result in dilution of Loral’s ownership interest in Telesat to approximately 62.0%. The following table presents the dilutive impact of Telesat stock options on Loral’s reported income from continuing operations for the purpose of computing diluted earnings per share (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Income from continuing operations — basic	$	37,582	$	65,404	$	18,594	$	54,796
Less: Adjustment for dilutive effect of Telesat stock options		(675)		(1,890)		(544)		(207)
Income from continuing operations — diluted	$	36,907	$	63,514	$	18,050	$	54,589

Basic income per share is computed based upon the weighted average number of shares of voting and non-voting common stock outstanding. The following is the computation of common shares outstanding for diluted earnings per share (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Common and potential common shares outstanding for diluted earnings per share:
Weighted average common shares outstanding		30,920		30,745		30,827		30,684
Stock options		—		30		—		76
Unvested restricted stock units		84		220		170		218
Unvested restricted stock		—		2		—		2
Common shares outstanding for diluted earnings per share		31,004		30,997		30,997		30,980