EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2015

The following table sets forth the computation of basic and diluted earnings per share attributable to IAC shareholders.



	Years Ended December 31,
	2015					2014				2013
	Basic		Diluted			Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Earnings from continuing operations	$	113,357	$	113,357		$	234,557	$	234,557	$	281,799	$	281,799
Net loss attributable to noncontrolling interests	6,098		6,098			5,643		5,643		2,059		2,059
Impact from Match Group's dilutive securities	—		(1,799		)	—		—		—		—
Earnings from continuing operations attributable to IAC shareholders	119,455		117,656			240,200		240,200		283,858		283,858
Earnings from discontinued operations attributable to IAC shareholders	17		17			174,673		174,673		1,926		1,926
Net earnings attributable to IAC shareholders	$	119,472	$	117,673		$	414,873	$	414,873	$	285,784	$	285,784

Denominator:
Weighted average basic shares outstanding	82,944		82,944			83,292		83,292		83,480		83,480
Dilutive securities including subsidiary denominated equity, stock options and RSUs^(a)(b)	—		5,323			—		5,266		—		3,262
Denominator for earnings per share—weighted average shares^(a)(b)	82,944		88,267			83,292		88,558		83,480		86,742

Earnings per share attributable to IAC shareholders:
Earnings per share from continuing operations	$	1.44	$	1.33		$	2.88	$	2.71	$	3.40	$	3.27
Discontinued operations	—		—			2.10		1.97		0.02		0.02
Earnings per share	$	1.44	$	1.33		$	4.98	$	4.68	$	3.42	$	3.29

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(a)

If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of subsidiary denominated equity, stock options and vesting of restricted stock units ("RSUs"). For the years ended December 31, 2015, 2014 and 2013, 1.5 million, 0.3 million and 0.4 million potentially dilutive securities, respectively, are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

(b)

Performance-based stock units ("PSUs") are included in the denominator for earnings per share if (i) the applicable performance condition(s) has been met and (ii) the inclusion of the PSUs is dilutive for the respective reporting periods. For each of the years ended December 31, 2015 and 2014 less than 0.1 million PSUs that were probable of vesting were excluded from the calculation of diluted earnings per share because the performance conditions had not been met. For the year ended December 31, 2013, all PSUs that were considered to be probable of vesting were included in the calculation of diluted earnings per share as their performance conditions had been met.