Earnings Per Share

6 Months Ended

Jun. 30, 2015

8. EARNINGS PER SHARE

The following table sets forth the components of the numerator and denominator for the computation of basic and diluted earnings per share for income (loss) from continuing operations, discontinued operations and net income attributable to Community Health Systems, Inc. common stockholders (in millions, except share data):



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Numerator:
Income from continuing operations, net of taxes	$	140	$	76	$	252	$	1
Less: Income from continuing operations attributable
to noncontrolling interests, net of taxes		23		28		43		43
Income (loss) from continuing operations attributable to
Community Health Systems, Inc. common
stockholders — basic and diluted	$	117	$	48	$	209	$	(42)

Loss from discontinued operations, net of taxes	$	(6)	$	(6)	$	(20)	$	(28)
Less: Loss from discontinued operations attributable
to noncontrolling interests, net of taxes		-		-		-		-
Loss from discontinued operations attributable to
Community Health Systems, Inc. common
stockholders — basic and diluted	$	(6)	$	(6)	$	(20)	$	(28)

Denominator:
Weighted-average number of shares outstanding — basic		115,194,899		112,598,899		114,809,386		109,617,014
Effect of dilutive securities:
Restricted stock awards		441,351		267,529		311,236		-
Employee stock options		453,661		596,766		453,160		-
Other equity-based awards		10,506		10,975		7,105		-
Weighted-average number of shares outstanding — diluted		116,100,417		113,474,169		115,580,887		109,617,014

The Company generated a loss from continuing operations attributable to Community Health Systems, Inc. common stockholders for the six months ended June 30, 2014, so the effect of dilutive securities is not considered because their effect would be antidilutive. If the Company had generated income from continuing operations during the six months ended June 30, 2014, the effect of restricted stock awards, employee stock options, and other equity-based awards on the diluted shares calculation would have been an increase in shares of 726,929 shares.



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Dilutive securities outstanding not included in
the computation of earnings per
share because their effect is antidilutive:
Employee stock options and restricted stock awards		-		-		-		945,500