EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE M – EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings (loss) per share for the years ended December 31:

	2012			2011			2010
	(in thousands, except share and per share data)
Basic earnings (loss) per share
Numerator:
Net income (loss) attributable to Arkansas Best Corporation	$	(7,732	)	$	6,159		$	(32,693	)
Effect of unvested restricted stock awards	(149		)	(249		)	(69		)
Adjusted net income (loss)	$	(7,881	)	$	5,910		$	(32,762	)
Denominator:
Weighted-average shares	25,564,752			25,403,073			25,187,723
Earnings (loss) per common share	$	(0.31	)	$	0.23		$	(1.30	)
Diluted earnings (loss) per share
Numerator:
Net income (loss) attributable to Arkansas Best Corporation	$	(7,732	)	$	6,159		$	(32,693	)
Effect of unvested restricted stock awards	(149		)	(249		)	(69		)
Adjusted net income (loss)	$	(7,881	)	$	5,910		$	(32,762	)
Denominator:
Weighted-average shares	25,564,752			25,403,073			25,187,723
Effect of dilutive securities	–			–			–
Adjusted weighted-average shares and assumed conversions	25,564,752			25,403,073			25,187,723
Earnings (loss) per common share	$	(0.31	)	$	0.23		$	(1.30	)

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 years ended December 31, 2012 and 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. For the year ended December 31, 2011, 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.