PER SHARE INFORMATION

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

PER SHARE INFORMATION

5.    PER SHARE INFORMATION:

Basic earnings per share is computed using the weighted average number of common shares outstanding during the period, and diluted earnings per share is computed using the weighted average number of common shares outstanding during the period adjusted for all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be antidilutive. The amounts used to compute the basic and diluted earnings per share for the three months ended March 31, 2013 and 2012 are illustrated below (in thousands):

	Three Months Ended March 31,
	2013		2012
AMOUNTS ATTRIBUTABLE TO COMMON STOCK:
Net income from continuing operations	$	72,081	$	45,798
Net loss from discontinued operations		—		(91	)
Net income attributable to common stock	$	72,081	$	45,707
WEIGHTED AVERAGE SHARES:
Weighted average shares outstanding for basic earnings per share		213,453		211,481
Effect of dilutive stock options		59		111
Weighted average shares outstanding for diluted earnings per share		213,512		211,592

For purposes of calculating diluted earnings per share, there were no adjustments required to derive Quanta’s net income attributable to common stock. For the three months ended March 31, 2013 and 2012, a nominal number of stock options were excluded from the computation of diluted earnings per share because the exercise prices of the stock options were greater than the average market price of Quanta’s common stock. The outstanding exchangeable shares of a Canadian subsidiary of Quanta that were issued pursuant to the acquisition of Valard Construction LP and certain of its affiliated entities (Valard) on October 25, 2010, which are exchangeable on a one-for-one basis with shares of Quanta common stock, are included in weighted average shares outstanding for basic and diluted earnings per share for the three months ended March 31, 2013 and 2012.