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EARNINGS (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2013
EARNINGS (LOSS) PER COMMON SHARE  
EARNINGS (LOSS) PER COMMON SHARE

NOTE 12. EARNINGS (LOSS) PER COMMON SHARE

 

The table below is a reconciliation of the numerators and denominators of our basic and diluted earnings (loss) per common share calculations for income (loss) from continuing operations for the three and nine months ended September 30, 2013 and 2012. Income (loss) is expressed in millions and weighted average shares are expressed in thousands.

 

 

 

Income (Loss)
(Numerator)

 

Weighted
Average
Shares
(Denominator)

 

Per-Share
Amount

 

Three Months Ended September 30, 2013

 

 

 

 

 

 

 

Income available to Tenet Healthcare Corporation common shareholders for basic earnings per share

 

$

33

 

100,894

 

$

0.33

 

Effect of dilutive stock options and restricted stock units

 

0

 

2,204

 

(0.01

)

Income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share

 

$

33

 

103,098

 

$

0.32

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2012

 

 

 

 

 

 

 

Income available to Tenet Healthcare Corporation common shareholders for basic earnings per share

 

$

30

 

104,244

 

$

0.29

 

Effect of dilutive stock options and restricted stock units

 

0

 

3,067

 

(0.01

)

Income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share

 

$

30

 

107,311

 

$

0.28

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2013

 

 

 

 

 

 

 

Loss to Tenet Healthcare Corporation common shareholders for basic earnings per share

 

$

(106

)

102,669

 

$

(1.03

)

Effect of dilutive stock options and restricted stock units

 

0

 

0

 

0

 

Loss to Tenet Healthcare Corporation common shareholders for diluted earnings per share

 

$

(106

)

102,669

 

$

(1.03

)

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2012

 

 

 

 

 

 

 

Income available to Tenet Healthcare Corporation common shareholders for basic earnings per share

 

$

129

 

103,613

 

$

1.25

 

Effect of dilutive stock options and restricted stock units

 

0

 

3,291

 

(0.04

)

Income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share

 

$

129

 

106,904

 

$

1.21

 

 

All potentially dilutive securities were excluded from the calculation of diluted earnings (loss) per share for the nine months ended September 30, 2013 because we did not report income from continuing operations in the period. In circumstances where we do not have income from continuing operations, the effect of stock options and other potentially dilutive securities is anti-dilutive, that is, a loss from continuing operations has the effect of making the diluted loss per share less than the basic loss per share. Had we generated income from continuing operations in that period, the effect (in thousands) of employee stock options, restricted stock units and deferred compensation units on the diluted shares calculation would have been an increase of 2,256. Stock options (in thousands) whose exercise price exceeded the average market price of our common stock and, therefore, were not included in the computation of diluted shares for the three and nine months ended September 30, 2013 were 1,226 and 827 shares, respectively, and for the three and nine months ended September 30, 2012 were 3,711 shares for both periods.