Per Share Data and Stockholders' Equity

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Per Share Data and Stockholders' Equity

7. Per Share Data and Stockholders’ Equity

The calculation of diluted earnings per share considers the potential dilutive effect of options and shares under Sonic’s stock compensation plans. Certain of Sonic’s non-vested restricted stock and restricted stock units contain rights to receive non-forfeitable dividends and thus, are considered participating securities and are included in the two-class method of computing earnings per share. The following table illustrates the dilutive effect of such items on earnings per share for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31, 2015
		Income (Loss)		Income (Loss)
		From Continuing		From Discontinued		Net
		Operations		Operations		Income (Loss)
	Weighted		Per		Per		Per
	Average		Share		Share		Share
	Shares	Amount	Amount	Amount	Amount	Amount	Amount
	(In thousands, except per share amounts)
Earnings (loss) and shares	50,854	$        14,389		$           (422)		$        13,967
Effect of participating securities:
Non-vested restricted stock
and restricted stock units		(5)		-		(5)
Basic earnings (loss) and shares	50,854	$        14,384	$       0.28	$           (422)	$      (0.01)	$        13,962	$       0.27
Effect of dilutive securities:
Stock compensation plans	549
Diluted earnings (loss) and shares	51,403	$        14,384	$       0.28	$           (422)	$      (0.01)	$        13,962	$       0.27

	Three Months Ended March 31, 2014
		Income (Loss)		Income (Loss)
		From Continuing		From Discontinued		Net
		Operations		Operations		Income (Loss)
	Weighted		Per		Per		Per
	Average		Share		Share		Share
	Shares	Amount	Amount	Amount	Amount	Amount	Amount
	(In thousands, except per share amounts)
Earnings (loss) and shares	52,418	$        19,984		$           (598)		$        19,386
Effect of participating securities:
Non-vested restricted stock
and restricted stock units		(63)		-		(63)
Basic earnings (loss) and shares	52,418	$        19,921	$       0.38	$           (598)	$      (0.01)	$        19,323	$       0.37
Effect of dilutive securities:
Stock compensation plans	528
Diluted earnings (loss) and shares	52,946	$        19,921	$       0.38	$           (598)	$      (0.02)	$        19,323	$       0.36

In addition to the stock options included in the table above, options to purchase approximately 0.4 million shares and 0.6 million shares of Class A common stock were outstanding during the three months ended March 31, 2015 and 2014, respectively, but were not included in the computation of diluted earnings per share because the options were not dilutive.