Quarterly report pursuant to Section 13 or 15(d)

Per Share Data and Stockholders' Equity

v2.4.0.8
Per Share Data and Stockholders' Equity
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Per Share Data and Stockholders' Equity

7. Per Share Data and Stockholders’ Equity

The calculation of diluted earnings per share considers the potential dilutive effect of options and shares under Sonic’s stock compensation plans. Certain of Sonic’s non-vested restricted stock and restricted stock units contain rights to receive non-forfeitable dividends and , as a result, are considered participating securities and are included in the two-class method of computing earnings per share. The following table illustrates the dilutive effect of such items on earnings per share for the second quarter and six-month periods ended June 30, 2014 and 2013:

 

     Second Quarter Ended June 30, 2014  
            Income (Loss)
From Continuing
Operations 		     Income (Loss)
From Discontinued
Operations		      Net Income (Loss)  
     Weighted
Average
Shares		      Amount     Per
Share
Amount		      Amount     Per
Share
Amount		      Amount     Per
Share
Amount		  
     (In thousands, except per share amounts)  

Earnings (loss) and shares

      52,514       $ 27,061         $ (68 )       $ 26,993     

Effect of participating securities:

                  

Non-vested restricted stock and restricted stock units

         (87 )         —             (87 )   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Basic earnings (loss) and shares

      52,514       $ 26,974      $ 0.51       $ (68 )    $ —         $ 26,906      $ 0.51   

Effect of dilutive securities:

                  

Stock compensation plans

      416                  
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Diluted earnings (loss) and shares

      52,930       $ 26,974      $ 0.51       $ (68 )    $ —         $ 26,906      $ 0.51   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

     Second Quarter Ended June 30, 2013  
            Income (Loss)
From Continuing
Operations		      Income (Loss)
From Discontinued
Operations		      Net Income (Loss)  
     Weighted
Average
Shares		      Amount     Per
Share
Amount		      Amount      Per
Share
Amount		      Amount     Per
Share
Amount		  
     (In thousands, except per share amounts)  

Earnings (loss) and shares

      52,597       $ 8,717         $ 199          $ 8,916     

Effect of participating securities:

                   

Non-vested restricted stock and restricted stock units

         (63 )         —              (63 )   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Basic earnings (loss) and shares

      52,597       $ 8,654      $ 0.16       $ 199       $ 0.01       $ 8,853      $ 0.17   

Effect of dilutive securities:

                   

Stock compensation plans

      345                   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Diluted earnings (loss) and shares

      52,942       $ 8,654      $ 0.16       $ 199       $ 0.01       $ 8,853      $ 0.17   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

 

     Six Months Ended June 30, 2014  
            Income (Loss)
From Continuing
Operations		      Income (Loss)
From Discontinued
Operations		     Net Income (Loss)  
     Weighted
Average
Shares		      Amount     Per
Share
Amount		      Amount     Per
Share
Amount		     Amount     Per
Share
Amount		  
     (In thousands, except per share amounts)  

Earnings (loss) and shares

      52,466       $ 47,045         $ (666 )      $ 46,379     

Effect of participating securities:

                 

Non-vested restricted stock and restricted stock units

         (151 )         —            (151 )   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Basic earnings (loss) and shares

      52,466       $ 46,894      $ 0.89       $ (666 )    $ (0.01 )    $ 46,228      $ 0.88   

Effect of dilutive securities:

                 

Stock compensation plans

      472                 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) and shares

      52,938       $ 46,894      $ 0.89       $ (666 )    $ (0.02 )    $ 46,228      $ 0.87   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

 

     Six Months Ended June 30, 2013  
            Income (Loss)
From Continuing
Operations 		     Income (Loss)
From Discontinued
Operations		     Net Income (Loss)  
     Weighted
Average
Shares		      Amount     Per
Share
Amount		      Amount     Per
Share
Amount		     Amount     Per
Share
Amount		  
     (In thousands, except per share amounts)  

Earnings (loss) and shares

      52,591       $ 30,415         $ (208 )      $ 30,207     

Effect of participating securities:

                 

Non-vested restricted stock and restricted stock units

         (229 )         —            (229 )   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Basic earnings (loss) and shares

      52,591       $ 30,186      $ 0.57       $ (208 )    $ —        $ 29,978      $ 0.57   

Effect of dilutive securities:

                 

Stock compensation plans

      346                 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) and shares

      52,937       $ 30,186      $ 0.57       $ (208 )    $    —        $ 29,978      $ 0.57   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

In addition to the stock options included in the table above, options to purchase approximately 0.4 million shares and 0.9 million shares of Class A Common Stock were outstanding at June 30, 2014 and 2013, respectively, but were not included in the computation of diluted earnings per share because the options were not dilutive.