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Earnings Per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings per Share

Note 4 Earnings Per Share

Basic earnings per share available to TDS common shareholders is computed by dividing Net income (loss) available to TDS common shareholders by the weighted average number of common shares outstanding during the period.  Diluted earnings per share available to TDS common shareholders is computed by dividing Net income (loss) available to TDS common shareholders by the weighted average number of common shares outstanding during the period adjusted to include the effects of potentially dilutive securities.  Potentially dilutive securities primarily include incremental shares issuable upon the exercise of outstanding stock options and the vesting of performance and restricted stock units.

The amounts used in computing earnings per common share and the effects of potentially dilutive securities on the weighted average number of common shares were as follows:

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

 

2017

 

2016

 

2017

 

2016

(Dollars and shares in millions, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share available to TDS common

 

 

 

 

 

 

 

 

 

 

 

 

 

shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to TDS common shareholders

    used in basic earnings (loss) per share

$

(181)

 

$

13 

 

$

(134)

 

$

49 

Adjustments to compute diluted earnings (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interest adjustment

 

– 

 

 

– 

 

 

– 

 

 

(1)

 

Net income (loss) available to TDS common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

used in diluted earnings (loss) per share

$

(181)

 

$

13 

 

$

(134)

 

$

48 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares used in basic

 

 

 

 

 

 

 

 

 

 

 

 

earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Shares

 

104 

 

 

103 

 

 

104 

 

 

103 

 

 

Series A Common Shares

 

7 

 

 

7 

 

 

7 

 

 

7 

 

 

 

Total

 

111 

 

 

110 

 

 

111 

 

 

110 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effects of dilutive securities

 

– 

 

 

1 

 

 

– 

 

 

1 

Weighted average number of shares used in diluted

 

 

 

 

 

 

 

 

 

 

 

 

earnings (loss) per share

 

111 

 

 

111 

 

 

111 

 

 

111 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share available to TDS common

 

 

 

 

 

 

 

 

 

 

 

 

shareholders

$

(1.64)

 

$

0.12 

 

$

(1.21)

 

$

0.44 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share available to TDS common

 

 

 

 

 

 

 

 

 

 

 

 

shareholders

$

(1.64)

 

$

0.11 

 

$

(1.21)

 

$

0.44 

 

Certain Common Shares issuable upon the exercise of stock options, vesting of performance and restricted stock units or conversion of preferred shares were not included in average diluted shares outstanding for the calculation of Diluted earnings (loss) per share available to TDS common shareholders because their effects were antidilutive.  The number of such Common Shares excluded was 5 million shares and 6 million shares for the three and nine months ended September 30, 2017, respectively, and 4 million shares for both the three and nine months ended September 30, 2016.