Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2017

Earnings Per Common Share (EPS) [Abstract]

Earnings Per Common Share (EPS)

(3)     Earnings Per Common Share (EPS)

Basic EPS and diluted EPS are calculated by dividing net income attributable to Tutor Perini Corporation by the following: for basic EPS, the weighted-average number of common shares outstanding during the period; and for diluted EPS, the sum of the weighted-average number of both outstanding common shares and potentially dilutive securities, which for the Company can include restricted stock units, unexercised stock options and the Convertible Notes, as defined in Note 6. The Company calculates the effect of these potentially dilutive securities using the treasury stock method.

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per common share amounts)	2017		2016		2017		2016
Net income attributable to Tutor Perini Corporation	$	30,096	$	21,361	$	43,860	$	36,760
Weighted-average common shares outstanding, basic		49,735		49,131		49,510		49,105
Effect of dilutive restricted stock units and stock options		1,020		430		1,343		318
Weighted-average common shares outstanding, diluted		50,755		49,561		50,853		49,423
Earnings per common share:
Basic earnings per common share	$	0.61	$	0.43	$	0.89	$	0.75
Diluted earnings per common share	$	0.59	$	0.43	$	0.86	$	0.74
Anti-dilutive shares not included above		353		1,704		672		1,704

With regard to diluted EPS and the impact of the Convertible Notes on the diluted EPS calculation, because the Company has the intent and ability to settle the principal amount of the Convertible Notes in cash, per Accounting Standards Codification (“ASC”) 260, Earnings Per Share, the settlement of the principal amount has no impact on diluted EPS.