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EARNINGS PER COMMON SHARE (Tables)
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per share:

 

In thousands, except share and per share data

 

 

 

Three Months Ended 

September 30,

 

 

Nine Months Ended 

September 30,

 

 

 

2016

 

 

2015 (Restated)

 

 

2016

 

 

2015 (Restated)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Stericycle, Inc.

 

$

64,795

 

 

$

69,449

 

 

$

187,615

 

 

$

186,219

 

Less: mandatory convertible preferred stock dividend

 

 

9,726

 

 

 

—

 

 

 

29,853

 

 

 

—

 

Less: gain on repurchase of preferred stock

 

 

(6,467

)

 

 

—

 

 

 

(7,747

)

 

 

—

 

Numerator for basic earnings per share attributable to Stericycle, Inc. common shareholders

 

$

61,536

 

 

$

69,449

 

 

$

165,509

 

 

$

186,219

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share-weighted average shares

 

 

85,044,303

 

 

 

84,884,599

 

 

 

84,881,452

 

 

 

84,960,955

 

Effect of diluted securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock based awards

 

 

526,226

 

 

 

1,235,716

 

 

 

808,073

 

 

 

1,273,904

 

Mandatory convertible preferred stock (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises

 

 

85,570,529

 

 

 

86,120,315

 

 

 

85,689,525

 

 

 

86,234,859

 

Earnings per share – Basic

 

$

0.72

 

 

$

0.82

 

 

$

1.95

 

 

$

2.19

 

Earnings per share – Diluted

 

$

0.72

 

 

$

0.81

 

 

$

1.93

 

 

$

2.16

 

 

(1)

The weighted average common shares issuable upon the assumed conversion of the mandatory convertible preferred stock totaling 5,495,861 and 5,590,105 shares for the three and nine months ended September 30, 2016, respectively, were excluded from the computation of diluted earnings per share as such conversion would have been antidilutive.