Quarterly report pursuant to Section 13 or 15(d)

Per Share Data and Stockholders' Equity

v3.7.0.1
Per Share Data and Stockholders' Equity
3 Months Ended
Mar. 31, 2017
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 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 months ended March 31, 2017 and 2016:

 

 

 

Three Months Ended March 31, 2017

 

 

 

 

 

 

 

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

 

 

44,791

 

 

$

(20

)

 

 

 

 

 

$

(521

)

 

 

 

 

 

$

(541

)

 

 

 

 

Effect of participating securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-vested restricted stock

 

 

 

 

 

 

-

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

-

 

 

 

 

 

Basic earnings (loss) and shares

 

 

44,791

 

 

$

(20

)

 

$

-

 

 

$

(521

)

 

$

(0.01

)

 

$

(541

)

 

$

(0.01

)

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock compensation plans

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) and shares

 

 

44,791

 

 

$

(20

)

 

$

-

 

 

$

(521

)

 

$

(0.01

)

 

$

(541

)

 

$

(0.01

)

 

 

 

Three Months Ended March 31, 2016

 

 

 

 

 

 

 

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

 

 

46,950

 

 

$

14,464

 

 

 

 

 

 

$

160

 

 

 

 

 

 

$

14,624

 

 

 

 

 

Effect of participating securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-vested restricted stock

 

 

 

 

 

 

(6

)

 

 

 

 

 

 

-

 

 

 

 

 

 

 

(6

)

 

 

 

 

Basic earnings (loss) and shares

 

 

46,950

 

 

$

14,458

 

 

$

0.31

 

 

$

160

 

 

$

-

 

 

$

14,618

 

 

$

0.31

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock compensation plans

 

 

172

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) and shares

 

 

47,122

 

 

$

14,458

 

 

$

0.31

 

 

$

160

 

 

$

-

 

 

$

14,618

 

 

$

0.31

 

 

In addition to the stock options included in the tables above, options to purchase approximately 0.1 million and 0.4 million shares of Sonic’s Class A common stock were outstanding at March 31, 2017 and 2016, respectively, but were not included in the computation of diluted earnings (loss) per share because the options were not dilutive.