| Earnings Per Share Computation |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the Three Month |
|
|
For the Nine Month |
|
| |
|
Period Ended September 30, |
|
|
Period Ended September 30, |
|
| |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| |
| Numerator for earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income attributable to Leucadia |
|
|
|
|
|
|
|
|
|
|
|
|
| National Corporation common shareholders |
$ |
54,679 |
|
$ |
2,971 |
|
$ |
214,069 |
|
$ |
360,686 |
|
| Less: Allocation of earnings to participating |
|
|
|
|
|
|
|
|
|
|
|
|
| securities (1) |
|
(1,264 |
) |
|
(92 |
) |
|
(5,167 |
) |
|
(4,608 |
) |
| Net income attributable to Leucadia National |
|
|
|
|
|
|
|
|
|
|
|
|
| Corporation common shareholders for |
|
|
|
|
|
|
|
|
|
|
|
|
| basic earnings (loss) per share |
|
53,415 |
|
|
2,879 |
|
|
208,902 |
|
|
356,078 |
|
| Adjustment to allocation of earnings to participating |
|
|
|
|
|
|
|
|
|
|
|
|
| securities related to diluted shares (1) |
|
(16 |
) |
|
(62 |
) |
|
(36 |
) |
|
(57 |
) |
| Interest on 3.75% Convertible Notes |
|
|
|
|
|
|
|
739 |
|
|
1,975 |
|
| Mandatorily redeemable convertible preferred share |
|
|
|
|
|
|
|
|
|
|
|
|
| dividends |
|
|
|
|
|
|
|
|
|
|
2,381 |
|
| Net income attributable to Leucadia |
|
|
|
|
|
|
|
|
|
|
|
|
| National Corporation common shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
| for diluted earnings (loss) per share |
$ |
53,399 |
|
$ |
2,817 |
|
$ |
209,605 |
|
$ |
360,377 |
|
| |
| Denominator for earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator for basic earnings (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
| weighted average shares |
|
373,347 |
|
|
367,641 |
|
|
371,372 |
|
|
331,091 |
|
| Stock options |
|
28 |
|
|
46 |
|
|
54 |
|
|
45 |
|
| Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
| 3.875% Convertible Senior Debentures |
|
|
|
|
|
|
|
|
|
|
|
|
| 3.75% Convertible Notes |
|
|
|
|
|
|
|
1,839 |
|
|
4,524 |
|
| Mandatorily redeemable convertible preferred shares |
|
|
|
|
|
|
|
|
|
|
3,237 |
|
| Denominator for diluted earnings (loss) per share |
|
373,375 |
|
|
367,687 |
|
|
373,265 |
|
|
338,897 |
|
| (1) |
Represents dividends declared during the period on participating securities plus an allocation of undistributed earnings to participating securities. Net losses are not allocated to participating securities. Participating securities represent restricted stock and RSUs for which requisite service has not yet been rendered and amounted to weighted average shares of 8,925,200 and 11,161,200 for the three months ended September 30, 2014 and 2013, respectively, and 9,262,000 and 8,912,400 for the nine months ended September 30, 2014 and 2013, respectively. Dividends declared on participating securities were $.5 million and $.7 million during the three months ended September 30, 2014 and 2013, respectively, and $1.7 million and $2.1 million during the nine months ended September 30, 2014 and 2013, respectively. Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed. | |