| 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 thus, 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 three and six months ended June 30, 2015 and 2014:
|
|
|
Three Months Ended June 30, 2015
|
|
|
|
|
|
|
|
|
Income (Loss)
|
|
|
Income (Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing
|
|
|
From Discontinued
|
|
|
Net
|
|
|
|
|
|
|
|
|
Operations
|
|
|
Operations
|
|
|
Income (Loss)
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
Average
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
|
|
(In thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) and shares
|
|
|
50,784
|
|
|
$
|
15,092
|
|
|
|
|
|
|
$
|
(311
|
)
|
|
|
|
|
|
$
|
14,781
|
|
|
|
|
|
|
Effect of participating securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested restricted stock
and restricted stock units
|
|
|
|
|
|
|
(7
|
)
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
(7
|
)
|
|
|
|
|
|
Basic earnings (loss) and shares
|
|
|
50,784
|
|
|
$
|
15,085
|
|
|
$
|
0.30
|
|
|
$
|
(311
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
14,774
|
|
|
$
|
0.29
|
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock compensation plans
|
|
|
309
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) and shares
|
|
|
51,093
|
|
|
$
|
15,085
|
|
|
$
|
0.30
|
|
|
$
|
(311
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
14,774
|
|
|
$
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2014
|
|
|
|
|
|
|
|
|
Income (Loss)
|
|
|
Income (Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing
|
|
|
From Discontinued
|
|
|
Net
|
|
|
|
|
|
|
|
|
Operations
|
|
|
Operations
|
|
|
Income (Loss)
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
Average
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2015
|
|
|
|
|
|
|
|
|
Income (Loss)
|
|
|
Income (Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing
|
|
|
From Discontinued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations
|
|
|
Operations
|
|
|
Net Income (Loss)
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
Average
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
|
|
(In thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) and shares
|
|
|
50,819
|
|
|
$
|
29,481
|
|
|
|
|
|
|
$
|
(732
|
)
|
|
|
|
|
|
$
|
28,749
|
|
|
|
|
|
|
Effect of participating securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested restricted stock
and restricted stock units
|
|
|
|
|
|
|
(14
|
)
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
(14
|
)
|
|
|
|
|
|
Basic earnings (loss) and shares
|
|
|
50,819
|
|
|
$
|
29,467
|
|
|
$
|
0.58
|
|
|
$
|
(732
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
28,735
|
|
|
$
|
0.57
|
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock compensation plans
|
|
|
428
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) and shares
|
|
|
51,247
|
|
|
$
|
29,467
|
|
|
$
|
0.57
|
|
|
$
|
(732
|
)
|
|
$
|
(0.01
|
)
|
|
$
|
28,735
|
|
|
$
|
0.56
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2014
|
|
|
|
|
|
|
|
|
Income (Loss)
|
|
|
Income (Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing
|
|
|
From Discontinued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations
|
|
|
Operations
|
|
|
Net Income (Loss)
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
Average
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In addition to the stock options included in the table above, options to purchase approximately 0.4 million shares of Class A common stock were outstanding at June 30, 2015 and 2014, but were not included in the computation of diluted earnings per share because the options were not dilutive.
|