XML 28 R44.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Calculation of basic and diluted earnings per common share        
Weighted average number of common shares used for basic earnings per share 26,472,162 [1] 26,206,371 [1] 26,439,870 [1] 26,181,382 [1]
Effect of potential dilutive shares 0 [2] 0 [2] 0 [2] 0 [2]
Weighted Average Number of Shares Outstanding, Diluted 26,472,162 26,206,371 26,439,870 26,181,382
Anti-dilutive shares outstanding at period-end excluded from the above reconciliation. 5,599,908 [3] 5,300,194 [3] 5,599,908 [3] 5,300,194 [3]
[1] Weighted average number of common shares used for basic earnings per share excludes weighted average shares of non-vested restricted stock of 232,884 and 275,188 for the three months ended September 30, 2014 and 2013, respectively, and excludes 236,616 and 283,357 for the nine months ended September 30, 2014 and 2013, respectively. Non-vested restricted stock is included in common shares issued and outstanding in the condensed consolidated balance sheets.
[2] Since the Company incurred a loss for the three and nine months ended September 30, 2014 and 2013, all potentially dilutive securities are anti-dilutive for these periods and, therefore, are excluded from the determination of diluted earnings per share.
[3] Anti-dilutive shares outstanding at period-end that are excluded from the above reconciliation include warrants, non-vested restricted stock and stock options issued under the FairPoint Communications, Inc. Amended and Restated 2010 Long Term Incentive Plan.