| Earnings Per Share |
Note 10 – Earnings Per Share
The following tables illustrate basic and diluted EPS for the three months ended March 31, 2017 and 2016:
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Three months ended March 31,
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2017
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2016
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(in thousands, except per share data)
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Common
Stock
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Common
Stock
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Basic EPS:
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Net income attributable to TSYS common shareholders
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$
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105,868
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90,628
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Less income allocated to nonvested awards
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(373)
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(526)
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Net income allocated to common stock for EPS calculation (a)
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$
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105,495
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90,102
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Average common shares outstanding (b)
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183,220
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182,177
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Basic EPS (a)/(b)
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$
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0.58
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0.49
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Diluted EPS:
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Net income attributable to TSYS common shareholders
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$
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105,868
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90,628
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Less income allocated to nonvested awards
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(373)
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(525)
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Add income allocated to nonvested awards1
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373
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-
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Net income allocated to common stock for EPS calculation (c)
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$
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105,868
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90,103
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Average common shares outstanding
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183,220
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182,177
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Increase due to assumed issuance of shares related to common equivalent shares outstanding
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1,067
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630
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Average nonvested awards1
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651
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-
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Average common and common equivalent shares outstanding (d)
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184,938
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182,807
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Diluted EPS (c)/(d)
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$
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0.57
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0.49
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Three months ended March 31,
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2017
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2016
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(in thousands, except per share data)
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Participating Securities
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Participating Securities
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Basic EPS:
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Net income allocated to nonvested awards (a)
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$
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373
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526
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Nonvested awards (b)
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660
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1,079
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Basic EPS (a)/(b)
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$
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0.57
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0.49
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Diluted EPS:
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Net income allocated to nonvested awards (c)
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$
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371
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525
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Average common and common equivalent shares outstanding (d)
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660
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1,079
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Diluted EPS (c)/(d)
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$
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0.56
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0.49
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1
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In accordance with the diluted EPS guidance under the two-class method, the Company uses the approach – either the treasury stock method or the two-class method assuming a participating security is not exercised – that is more dilutive. In 2017, the Company used the two-class method. In 2016, the Company used the treasury stock method. |
The diluted EPS calculation excludes stock options and nonvested awards that are exercisable into 0.6 million common shares for the three months ended March 31, 2017, and excludes 0.8 million common shares for the three months ended March 31, 2016, because their inclusion would have been anti-dilutive.
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