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Capital Stock & Earnings (Loss) Per Share
12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Capital Stock and Earnings (Loss) Per Share    

CAPITAL STOCK

SHI has two classes of authorized capital stock: preferred stock and common stock. SHI may issue preferred stock in series. The board of directors determines the dividend, liquidation, redemption, conversion, voting and other rights prior to issuance.

Par value and shares authorized at December 31, 2014 were as follows:
 
 
Preferred Stock *
 
Common Stock
 
 
 
 
 
Par value
 
$
0.01

 
$
0.01

Shares authorized
 
300,000,000

 
2,000,000,000

                                      
*
No shares of preferred stock issued and outstanding at December 31, 2014 or 2013.

Changes in shares of common stock issued and outstanding were as follows:
At or for the Years Ended December 31,
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
Balance at beginning of period
 
114,832,895

 
100,000,000

 
100,000,000

Common shares issued
 

 
14,832,895

 

Balance at end of period
 
114,832,895

 
114,832,895

 
100,000,000



EARNINGS (LOSS) PER SHARE

The computation of earnings (loss) per share was as follows:
(dollars in thousands except earnings (loss) per share)

2014

2013

2012


 
 
 
 
 
Numerator (basic and diluted):

 
 
 
 
 
Net income (loss) attributable to Springleaf Holdings, Inc.

$
504,636

 
$
(19,301
)
 
$
(217,697
)
Denominator:

 
 
 
 
 
Weighted average number of shares outstanding (basic)

114,791,225

 
102,917,172

 
100,000,000

Effect of dilutive securities *

473,898





Weighted average number of shares outstanding (diluted)

115,265,123

 
102,917,172

 
100,000,000

Earnings (loss) per share:

 
 
 
 
 
Basic

$
4.40

 
$
(0.19
)
 
$
(2.18
)
Diluted

$
4.38

 
$
(0.19
)
 
$
(2.18
)
                                      
*
We have excluded 583,459 performance shares in the diluted earnings per share calculation for 2014, which could impact the earnings per share calculation in the future. Due to the net loss incurred in 2013, we excluded 37,246 nonvested shares in the diluted earnings (loss) per share computation for 2013 because these shares would automatically result in anti-dilution.

Basic earnings per share is computed by dividing net income or loss by the weighted-average number of shares outstanding during each period. Diluted earnings per share is computed based on the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares represent outstanding unvested restricted stock units (“RSUs”) and restricted stock awards (“RSAs”).