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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2011
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE H — EARNINGS PER SHARE

 

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

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30

 

June 30

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

($ thousands, except share and per share data)

 

Basic earnings (loss) per share

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Arkansas Best Corporation

 

$

5,298

 

$

(7,444

)

$

(7,510

)

$

(28,836

)

Effect of unvested restricted stock awards

 

(213

)

—

 

(60

)

(17

)

Adjusted net income (loss)

 

$

5,085

 

$

(7,444

)

$

(7,570

)

$

(28,853

)

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

25,411,339

 

25,182,579

 

25,358,130

 

25,137,886

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per common share

 

$

0.20

 

$

(0.30

)

$

(0.30

)

$

(1.15

)

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Arkansas Best Corporation

 

$

5,298

 

$

(7,444

)

$

(7,510

)

$

(28,836

)

Effect of unvested restricted stock awards

 

(213

)

—

 

(60

)

(17

)

Adjusted net income (loss)

 

$

5,085

 

$

(7,444

)

$

(7,570

)

$

(28,853

)

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 

25,411,339

 

25,182,579

 

25,358,130

 

25,137,886

 

Effect of dilutive securities

 

603

 

—

 

—

 

—

 

Adjusted weighted-average shares and assumed conversions

 

25,411,942

 

25,182,579

 

25,358,130

 

25,137,886

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per common share

 

$

0.20

 

$

(0.30

)

$

(0.30

)

$

(1.15

)

 

Under the two-class method of calculating earnings per share, dividends paid and a portion of undistributed net income, but not losses, are allocated to unvested restricted stock and restricted stock units, which are considered participating securities.

 

For the 2011 periods presented, outstanding stock awards of 0.9 million were not included in the diluted earnings per share calculations because their inclusion would have the effect of increasing the earnings per share for the three months ended June 30, 2011 and decreasing the loss per share for the six months ended June 30, 2011. For the three and six months ended June 30, 2010, outstanding stock awards of 0.7 million were not included in the diluted earnings per share calculations because their inclusion would have the effect of decreasing the loss per share.