| Earnings Per Common Share |
The following table sets forth the computation of basic and diluted earnings per share:
|
|
|
Years Ended December 31, |
|
|
|
|
2015 |
|
|
2014 |
|
|
2013 |
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|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Stericycle, Inc. |
|
$ |
267,046 |
|
|
$ |
326,456 |
|
|
$ |
311,372 |
|
|
Less: mandatory convertible preferred stock dividend |
|
|
10,106 |
|
|
|
— |
|
|
|
— |
|
|
Numerator for basic earnings per share attributable to Stericycle, Inc. common shareholders |
|
|
256,940 |
|
|
|
326,456 |
|
|
|
311,372 |
|
|
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator for basic earnings per share-weighted average shares |
|
|
84,944,841 |
|
|
|
84,932,792 |
|
|
|
85,902,550 |
|
|
Effect of diluted securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee stock options |
|
|
1,217,768 |
|
|
|
1,300,820 |
|
|
|
1,489,438 |
|
|
Mandatory convertible preferred stock (1) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises |
|
|
86,162,609 |
|
|
|
86,233,612 |
|
|
|
87,391,988 |
|
|
Earnings per share – Basic |
|
$ |
3.02 |
|
|
$ |
3.84 |
|
|
$ |
3.62 |
|
|
Earnings per share – Diluted |
|
$ |
2.98 |
|
|
$ |
3.79 |
|
|
$ |
3.56 |
|
|
(1) |
In 2015, the weighted average common shares issuable upon the assumed conversion of the mandatory convertible preferred stock totaling 1,648,318 shares were excluded from the computation of diluted earnings per share as such conversion would have been anti-dilutive. |
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