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EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2013
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 16 — EARNINGS PER SHARE

 

Basic earnings per share (“EPS”) is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of all dilutive securities using the treasury stock method.

 

Basic and diluted EPS are calculated as follows:

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30,

 

June 30,

 

(in thousands, except per share data)

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Altisource

 

$

30,931

 

$

28,081

 

$

58,449

 

$

53,310

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic

 

23,161

 

23,316

 

23,267

 

23,353

 

Dilutive effect of stock options

 

1,662

 

1,530

 

1,673

 

1,497

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, diluted

 

24,823

 

24,846

 

24,940

 

24,850

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

Basic

 

$

1.34

 

$

1.20

 

$

2.51

 

$

2.28

 

Diluted

 

$

1.25

 

$

1.13

 

$

2.34

 

$

2.15

 

 

For the six months ended June 30, 2013 and 2012, 0.1 million and less than 0.1 million options, respectively (less than 0.1 million for the second quarter of 2013 and 2012), that were anti-dilutive have been excluded from the computation of diluted EPS. These options were anti-dilutive because their exercise price was greater than the average market price of our common stock.  Also excluded from the computation of diluted EPS for the six months ended June 30, 2013 and 2012 are 0.1 million and 0.3 million options, respectively (0.1 million and 0.3 million for the second quarter of 2013 and 2012, respectively), granted for shares that are issuable upon the achievement of certain market and performance criteria related to our common stock price and an annualized rate of return to investors that have not been met.