Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

12. 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 61.7%. 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):

	Year Ended December 31,
	2013		2012
Income from continuing operations — basic	$	21,456	$	100,442
Less: Adjustment for dilutive effect of Telesat stock options		(641)		(683)
Income from continuing operations — diluted	$	20,815	$	99,759

Telesat stock options are excluded from the calculation of diluted loss per share for the year ended December 31, 2014 as the effect would be antidilutive.

Basic earnings 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):

	Year Ended December 31,
	2013	2012
Common and potential common shares outstanding for diluted earnings per share:
Weighted average common shares outstanding	30,850	30,703
Stock options	—	61
Unconverted restricted stock units	149	226
Unvested or unconverted restricted stock	—	1
Common shares outstanding for diluted earnings per share	30,999	30,991

For the year ended December 31, 2014, the following unconverted restricted stock units are excluded from the calculation of diluted loss per share as the effect would have been antidilutive (in thousands):

	December 31, 2014
Unconverted restricted stock units	84