Earnings Per Share

12 Months Ended

Dec. 31, 2015

Basic earnings per share are computed using the weighted average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares outstanding, adjusted to include the potentially dilutive effect of stock options and restricted stock units (see Note 10), and other potentially dilutive securities.

The following table sets forth the computation of basic and diluted earnings per share attributable to VPG stockholders (in thousands, except earnings per share):



	Years ended December 31,
	2015			2014		2013
Numerator:

Numerator for basic earnings per share:
Net (loss) earnings attributable to VPG stockholders	$	(13,008	)	$	3,080	$	4,436
Adjustment to the numerator for net earnings:
Interest savings assuming conversion of dilutive exchangeable notes, net of tax	—			6		15
Numerator for diluted earnings per share:
Net (loss) earnings attributable to VPG stockholders	$	(13,008	)	$	3,086	$	4,451
Denominator:
Denominator for basic earnings per share:
Weighted average shares	13,485			13,755		13,563
Effect of dilutive securities:
Exchangeable notes	—			181		311
Employee stock options	—			1		1
Restricted stock units	—			40		69
Dilutive potential common shares	—			222		381
Denominator for diluted earnings per share:
Adjusted weighted average shares	13,485			13,977		13,944

Basic (loss) earnings per share attributable to VPG stockholders	$	(0.96	)	$	0.22	$	0.33

Diluted (loss) earnings per share attributable to VPG stockholders	$	(0.96	)	$	0.22	$	0.32

Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares, as the effect would be antidilutive (in thousands):



	Years ended December 31,
	2015	2014	2013
Weighted average employee stock options	18	18	23
Weighted average exchangeable notes	181	—	—
Weighted average restricted stock units	36	—	—