| Earnings per share |
Basic net income per share is calculated by dividing net income attributable to the Company, adjusted for any change in noncontrolling interests redemption rights in excess of fair value, by the weighted average number of common shares and vested stock units outstanding, net of shares held in escrow that under certain circumstances may be returned to the Company.
Diluted net income per share includes the dilutive effect of outstanding stock-settled stock appreciation rights and unvested stock units (under the treasury stock method) as well as contingently returnable shares held in escrow.
The reconciliations of the numerators and denominators used to calculate basic and diluted earnings per share are as follows:
|
|
|
Three months ended |
|
|
Nine months ended |
|
|
|
|
September 30, |
|
|
September 30, |
|
|
|
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
|
Basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to DaVita HealthCare
Partners Inc. |
|
$ |
215,872 |
|
|
$ |
184,122 |
|
|
$ |
275,732 |
|
|
$ |
515,094 |
|
|
Weighted average shares outstanding during
the period |
|
|
214,569 |
|
|
|
214,810 |
|
|
|
215,108 |
|
|
|
214,280 |
|
|
Vested stock units |
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
Contingently returnable shares held in escrow
for the DaVita HealthCare Partners merger |
|
|
(2,194 |
) |
|
|
(2,194 |
) |
|
|
(2,194 |
) |
|
|
(2,194 |
) |
|
Weighted average shares for basic earnings
per share calculation |
|
|
212,375 |
|
|
|
212,617 |
|
|
|
212,914 |
|
|
|
212,087 |
|
|
Basic net income per share attributable to
DaVita HealthCare Partners Inc. |
|
$ |
1.02 |
|
|
$ |
0.87 |
|
|
$ |
1.30 |
|
|
$ |
2.43 |
|
|
Diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to DaVita HealthCare
Partners Inc. |
|
$ |
215,872 |
|
|
$ |
184,122 |
|
|
$ |
275,732 |
|
|
$ |
515,094 |
|
|
Weighted average shares outstanding during
the period |
|
|
214,569 |
|
|
|
214,810 |
|
|
|
215,108 |
|
|
|
214,280 |
|
|
Vested stock units |
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
Assumed incremental shares from stock plans |
|
|
2,122 |
|
|
|
2,425 |
|
|
|
2,313 |
|
|
|
2,414 |
|
|
Weighted average shares for diluted earnings
per share calculation |
|
|
216,691 |
|
|
|
217,236 |
|
|
|
217,421 |
|
|
|
216,695 |
|
|
Diluted net income per share attributable
to DaVita HealthCare Partners Inc. |
|
$ |
1.00 |
|
|
$ |
0.85 |
|
|
$ |
1.27 |
|
|
$ |
2.38 |
|
|
Anti-dilutive potential common shares
excluded from calculation (1) |
|
|
1,184 |
|
|
|
1,422 |
|
|
|
1,092 |
|
|
|
1,804 |
|
______________
|
(1) |
Shares associated with stock-settled stock appreciation rights that are excluded from the diluted denominator calculation because they are anti-dilutive under the treasury stock method. |
|