| 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 stock options and shares under Sonic’s stock compensation plans. Certain of Sonic’s non-vested restricted stock awards 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 tables illustrate the dilutive effect of such items on earnings per share for the three and nine months ended September 30, 2017 and 2016:
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Three Months Ended September 30, 2017
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Income (Loss)
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Income (Loss)
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|
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From Continuing
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From Discontinued
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Net
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|
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Operations
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Operations
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Income (Loss)
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Weighted
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|
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Per
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|
|
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Per
|
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Per
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Average
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Share
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Share
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Share
|
|
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Shares
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Amount
|
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Amount
|
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Amount
|
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Amount
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Amount
|
|
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Amount
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(In thousands, except per share amounts)
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Earnings (loss) and shares
|
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43,496
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$
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19,730
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|
|
|
|
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$
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(290
|
)
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$
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19,440
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|
|
|
|
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Effect of participating securities:
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|
|
|
|
|
|
|
|
|
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Non-vested restricted stock
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|
|
|
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(18
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)
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|
|
|
|
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-
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|
|
|
|
|
|
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(18
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)
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Basic earnings (loss) and shares
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43,496
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|
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$
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19,712
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$
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0.45
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|
$
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(290
|
)
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$
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-
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$
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19,422
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$
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0.45
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Effect of dilutive securities:
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|
|
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Stock compensation plans
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|
315
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|
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|
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|
|
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Diluted earnings (loss) and shares
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43,811
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$
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19,712
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$
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0.45
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$
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(290
|
)
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|
$
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(0.01
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)
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$
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19,422
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$
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0.44
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Three Months Ended September 30, 2016
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Income (Loss)
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Income (Loss)
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From Continuing
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From Discontinued
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Net
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|
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Operations
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Operations
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Income (Loss)
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Weighted
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Per
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|
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Per
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Per
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Average
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Share
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Share
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Share
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Shares
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Amount
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Amount
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Amount
|
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Amount
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Amount
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Amount
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(In thousands, except per share amounts)
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Earnings (loss) and shares
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45,118
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$
|
18,969
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|
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$
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(858
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)
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$
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18,111
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Effect of participating securities:
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|
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|
|
|
|
|
|
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Non-vested restricted stock
|
|
|
|
|
|
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(11
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)
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|
|
|
|
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-
|
|
|
|
|
|
|
|
(11
|
)
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|
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|
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Basic earnings (loss) and shares
|
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45,118
|
|
|
$
|
18,958
|
|
|
$
|
0.42
|
|
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$
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(858
|
)
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|
$
|
(0.02
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)
|
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$
|
18,100
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$
|
0.40
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Effect of dilutive securities:
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|
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Stock compensation plans
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236
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Diluted earnings (loss) and shares
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45,354
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$
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18,958
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$
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0.42
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$
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(858
|
)
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|
$
|
(0.02
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)
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$
|
18,100
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$
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0.40
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Nine Months Ended September 30, 2017
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Income (Loss)
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Income (Loss)
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|
|
|
|
|
|
|
|
|
|
|
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|
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From Continuing
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From Discontinued
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Net
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Operations
|
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|
Operations
|
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Income (Loss)
|
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|
Weighted
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Per
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Per
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Per
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Average
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Share
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Share
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Share
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Shares
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Amount
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Amount
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Amount
|
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Amount
|
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Amount
|
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|
Amount
|
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|
(In thousands, except per share amounts)
|
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Earnings (loss) and shares
|
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|
44,281
|
|
|
$
|
32,024
|
|
|
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$
|
(993
|
)
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$
|
31,031
|
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|
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Effect of participating securities:
|
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|
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|
|
|
|
|
|
|
|
|
|
|
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Non-vested restricted stock
|
|
|
|
|
|
|
(28
|
)
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
(28
|
)
|
|
|
|
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Basic earnings (loss) and shares
|
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|
44,281
|
|
|
$
|
31,996
|
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$
|
0.72
|
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$
|
(993
|
)
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|
$
|
(0.02
|
)
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$
|
31,003
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$
|
0.70
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Effect of dilutive securities:
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Stock compensation plans
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304
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|
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|
|
|
|
|
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|
|
|
|
|
|
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Diluted earnings (loss) and shares
|
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|
44,585
|
|
|
$
|
31,996
|
|
|
$
|
0.72
|
|
|
$
|
(993
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
31,003
|
|
|
$
|
0.70
|
|
|
|
|
Nine Months Ended September 30, 2016
|
|
|
|
|
|
|
|
|
Income (Loss)
|
|
|
Income (Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing
|
|
|
From Discontinued
|
|
|
Net
|
|
|
|
|
|
|
|
|
Operations
|
|
|
Operations
|
|
|
Income (Loss)
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
|
|
Per
|
|
|
|
|
Average
|
|
|
|
|
|
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Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
|
|
Share
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
Amount
|
|
|
|
|
(In thousands, except per share amounts)
|
|
|
Earnings (loss) and shares
|
|
|
45,930
|
|
|
$
|
56,475
|
|
|
|
|
|
|
$
|
(918
|
)
|
|
|
|
|
|
$
|
55,557
|
|
|
|
|
|
|
Effect of participating securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-vested restricted stock
|
|
|
|
|
|
|
(31
|
)
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
(31
|
)
|
|
|
|
|
|
Basic earnings (loss) and shares
|
|
|
45,930
|
|
|
$
|
56,444
|
|
|
$
|
1.23
|
|
|
$
|
(918
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
55,526
|
|
|
$
|
1.21
|
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock compensation plans
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) and shares
|
|
|
46,130
|
|
|
$
|
56,444
|
|
|
$
|
1.22
|
|
|
$
|
(918
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
55,526
|
|
|
$
|
1.20
|
|
|