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Earnings Per Share Computation
3 Months Ended
Mar. 31, 2013
Earnings Per Share Computation [Abstract]  
Earnings Per Share Computation

7. Net Income Per Share

 

Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the period. Restricted stock units issued under the Company's stock-based employee compensation plans are included in diluted shares upon the granting of the awards even though the vesting of shares will occur over time. Performance-based awards are included in diluted shares based on the level of performance that management estimates is the most probable outcome at the grant date. Throughout the requisite service period, management monitors the probability of achievement of the performance condition and, if material, adjusts the number of shares included in diluted shares accordingly.

 

       The following table sets forth the reconciliation of numerators and denominators of basic and diluted net income per share computations for the three months ended March 31, 2013 and 2012 (dollars and shares in thousands, except per share amounts):

 

    Three Months Ended
    March 31,
    2013  2012
 Numerator:     
  Net income attributable to Cash America International, Inc. $ 43,926 $ 41,467
 Denominator:     
 Total weighted average basic shares (a)  29,100   29,616
  Shares applicable to stock-based compensation(b)  144   297
  Convertible debt(c)  2,127   1,999
  Total weighted average diluted shares (d)  31,371   31,912
  
  Net income – basic $ 1.51 $ 1.40
  Net income – diluted $ 1.40 $ 1.30
        
(a)a Includes vested and deferred restricted stock units of 310 and 279, as well as 31 and 32 shares held in the Company's nonqualified deferred compensation plan for the three months ended March 31, 2013 and 2012, respectively.
(b) For the three months ended March 31, 2013, includes shares related to unvested restricted stock unit awards. For the three months ended March 31, 2012, includes shares related to outstanding option awards that are exercisable and shares related to unvested restricted stock unit awards.
(c)a a a The shares issuable with respect to the Company's 2009 Convertible Notes due 2029 (the "2009 Convertible Notes") have been calculated using the treasury stock method. The Company intends to settle the principal portion of the convertible debt in cash; therefore, only the shares related to the conversion spread have been included in weighted average diluted shares.
(d) There were 87 anti-dilutive shares for the three months ended March 31, 2013 and no anti-dilutive shares for the three months ended March 31, 2012.