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Net Income per Common Share Attributable to Magellan Health, Inc.
 6 Months Ended
Jun. 30, 2014
Net Income per Common Share Attributable to Magellan Health, Inc.  
Net Income per Common Share Attributable to Magellan Health, Inc.

 

NOTE B—Net Income per Common Share Attributable to Magellan Health, Inc.

        The following tables reconcile income attributable to common shareholders (numerator) and shares (denominator) used in the computations of net income per share attributable to common shareholders (in thousands, except per share data):

 
   Three Months Ended
June 30,		   Six Months Ended
June 30,		  
 
   2013   2014   2013   2014  

Numerator:

                          

Net income attributable to Magellan Health, Inc. 

   $ 31,480   $ 4,986   $ 59,538   $ 30,706  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Denominator:

                          

Weighted average number of common shares outstanding—basic

     26,829     27,144     26,968     27,257  

Common stock equivalents—stock options

     497     554     482     574  

Common stock equivalents—restricted stock

     10     66     14     49  

Common stock equivalents—restricted stock units

     —     —     26     27  

Common stock equivalents—employee stock purchase plan

     2     1     2     1  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Weighted average number of common shares outstanding—diluted

     27,338     27,765     27,492     27,908  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Net income attributable to Magellan Health, Inc. per common share—basic

   $ 1.17   $ 0.18   $ 2.21   $ 1.13  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Net income attributable to Magellan Health, Inc. per common share—diluted

   $ 1.15   $ 0.18   $ 2.17   $ 1.10  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

        The weighted average number of common shares outstanding for the three and six months ended June 30, 2013 and 2014 were calculated using outstanding shares of the Company's common stock. Common stock equivalents included in the calculation of diluted weighted average common shares outstanding for the three and six months ended June 30, 2013 and 2014 represent stock options to purchase shares of the Company's common stock, restricted stock awards and restricted stock units, and stock purchased under the Employee Stock Purchase Plan.

        The Company had additional potential dilutive securities outstanding representing 1.2 million and 1.9 million options for the three and six months ended June 30, 2013, respectively, and 0.7 million and 0.5 million for the three and six months ended June 30, 2014, respectively, that were not included in the computation of dilutive securities because they were anti-dilutive for the period. Had these shares not been anti-dilutive, all of these shares would not have been included in the net income attributable to common shareholder per common share calculation as the Company uses the treasury stock method of calculating diluted shares.