XML 116 R35.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Net income for purposes of determining basic and diluted EPS As a result, in its calculation of basic EPS for the years ended December 31, 2019, 2018 and 2017, respectively, the Company has adjusted its net income for the effect of these participating securities as follows:
 
For the year ended December 31,
 
2019
 
2018
 
2017
Net income attributed to Vector Group Ltd.
$
100,974

 
$
58,105

 
$
84,572

Income attributable to participating securities
(7,464
)
 
(7,016
)
 
(6,071
)
Net income available to common stockholders attributed to Vector Group Ltd.
$
93,510

 
$
51,089

 
$
78,501


Net income for purposes of determining diluted EPS was as follows:

 
For the year ended December 31,
 
2019
 
2018
 
2017
Net income attributed to Vector Group Ltd.
$
100,974

 
$
58,105

 
$
84,572

Income attributable to 7.5% Variable Interest Senior Convertible Notes
(1,255
)
 

 

Income attributable to participating securities
(7,464
)
 
(7,016
)
 
(6,071
)
Net income available to common stockholders attributed to Vector Group Ltd.
$
92,255

 
$
51,089

 
$
78,501


Basic and diluted EPS calculation shares
Basic and diluted EPS were calculated using the following common shares for the years ended December 31, 2019, 2018 and 2017:

 
For the year ended December 31,
 
2019
 
2018
 
2017
Weighted-average shares for basic EPS
146,633,036

 
146,362,270

 
145,987,002

Plus incremental shares related to convertible debt
718,918

 

 

Plus incremental shares related to stock options and non-vested restricted stock
16,509

 
122,542

 
284,817

Weighted-average shares for diluted EPS
147,368,463

 
146,484,812

 
146,271,819


Outstanding shares not included in the computation of diluted EPS
The following non-vested restricted stock and shares issuable upon the conversion of convertible debt were outstanding during the years ended December 31, 2019, 2018 and 2017, but were not included in the computation of diluted EPS because the impact of common shares issuable under the convertible debt were anti-dilutive to EPS.

 
Year Ended December 31,
 
2019
 
2018
 
2017
Weighted-average shares of non-vested restricted stock
1,207,366

 

 

Weighted-average expense per share
$
17.97

 
$

 
$

Weighted-average number of shares issuable upon conversion of debt
11,118,139

 
30,212,414

 
30,260,607

Weighted-average conversion price
$
20.27

 
$
16.14

 
$
16.15