Per Share Data and Stockholders' Equity

9 Months Ended

Sep. 30, 2018

Per Share Data and Stockholders’ Equity

The calculation of diluted earnings per share considers the potential dilutive effect of stock options and shares under Sonic’s stock compensation plans and Class A Common Stock purchase warrants. Certain of Sonic’s non-vested restricted stock awards 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 tables illustrate the dilutive effect of such items on earnings per share for the three and nine months ended September 30, 2018 and 2017:


	Three Months Ended September 30, 2018
		Income (Loss)						Income (Loss)
		From Continuing Operations						From Discontinued Operations						Net Income (Loss)
	Weighted Average Shares	Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount
	(In thousands, except per share amounts)
Earnings (loss) and shares	42,673	$	15,301			$	(183)			$	15,118
Effect of participating securities:
Non-vested restricted stock		(14)				—				(14)
Basic earnings (loss) and shares	42,673	$	15,287	$	0.36	$	(183)	$	(0.01)	$	15,104	$	0.35
Effect of dilutive securities:
Stock compensation plans	321
Diluted earnings (loss) and shares	42,994	$	15,287	$	0.36	$	(183)	$	(0.01)	$	15,104	$	0.35


	Three Months Ended September 30, 2017
		Income (Loss)						Income (Loss)
		From Continuing Operations						From Discontinued Operations						Net Income (Loss)
	Weighted Average Shares	Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount
	(In thousands, except per share amounts)
Earnings (loss) and shares	43,496	$	19,730			$	(290)			$	19,440
Effect of participating securities:
Non-vested restricted stock		(18)				—				(18)
Basic earnings (loss) and shares	43,496	$	19,712	$	0.45	$	(290)	$	—	$	19,422	$	0.45
Effect of dilutive securities:
Stock compensation plans	315
Diluted earnings (loss) and shares	43,811	$	19,712	$	0.45	$	(290)	$	(0.01)	$	19,422	$	0.44


	Nine Months Ended September 30, 2018
		Income (Loss)						Income (Loss)
		From Continuing Operations						From Discontinued Operations						Net Income (Loss)
	Weighted Average Shares	Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount
	(In thousands, except per share amounts)
Earnings (loss) and shares	42,708	$	30,409			$	(579)			$	29,830
Effect of participating securities:
Non-vested restricted stock		(29)				—				(29)
Basic earnings (loss) and shares	42,708	$	30,380	$	0.71	$	(579)	$	(0.01)	$	29,801	$	0.70
Effect of dilutive securities:
Stock compensation plans	256
Diluted earnings (loss) and shares	42,964	$	30,380	$	0.71	$	(579)	$	(0.02)	$	29,801	$	0.69


	Nine Months Ended September 30, 2017
		Income (Loss)						Income (Loss)
		From Continuing Operations						From Discontinued Operations						Net Income (Loss)
	Weighted Average Shares	Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount
	(In thousands, except per share amounts)
Earnings (loss) and shares	44,281	$	32,024			$	(993)			$	31,031
Effect of participating securities:
Non-vested restricted stock		(28)				—				(28)
Basic earnings (loss) and shares	44,281	$	31,996	$	0.72	$	(993)	$	(0.02)	$	31,003	$	0.70
Effect of dilutive securities:
Stock compensation plans	304
Diluted earnings (loss) and shares	44,585	$	31,996	$	0.72	$	(993)	$	(0.02)	$	31,003	$	0.70