Quarterly report pursuant to Section 13 or 15(d)

Per Share Data and Stockholders' Equity

 v2.3.0.11
Per Share Data and Stockholders' Equity
 6 Months Ended
Jun. 30, 2011
Per Share Data and Stockholders' Equity [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 Sonic’s contingently convertible debt issuances and stock options to purchase shares of Class A common stock under several equity compensation plans. 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, 2011 and 2010:
                                                         
    For the Second Quarter Ended June 30, 2011  
            Income     Loss        
            From Continuing     From Discontinued        
            Operations   Operations   Net Income
                                         
    Weighted             Per             Per             Per  
    Average Shares   Amount   Share Amount   Amount   Share Amount   Amount   Share Amount
    (In thousands, except per share amounts)  
Earnings (Loss) and Shares
    52,461     $ 22,151             $ (800 )           $ 21,351          
Effect of Participating Securities:
                                                       
Non-vested Restricted Stock and Stock Units
    —       (291 )             —               (291 )        
 
                           
Basic Earnings (Loss) and Shares
    52,461     $ 21,860     $ 0.42     $ (800 )   $ (0.02 )   $ 21,060     $ 0.40  
Effect of Dilutive Securities:
                                                       
Contingently Convertible Debt ( 5.0% Convertible Notes)
    12,890       2,294               —               2,294          
Stock Compensation Plans
    585                                                  
 
                           
Diluted Earnings (Loss) and Shares
    65,936     $ 24,154     $ 0.37     $ (800 )   $ (0.02 )   $ 23,354     $ 0.35  
 
                           
                                                         
    For the Second Quarter Ended June 30, 2010
            Income     Loss        
            From Continuing     From Discontinued        
            Operations   Operations   Net Income
                                         
    Weighted             Per             Per             Per  
    Average Shares   Amount   Share Amount   Amount   Share Amount   Amount   Share Amount
    (In thousands, except per share amounts)  
Earnings (Loss) and Shares
    52,249     $ 9,592             $ (1,156 )           $ 8,436          
Effect of Participating Securities:
                                                       
Non-vested Restricted Stock and Stock Units
    —       (94 )             —               (94 )        
 
                           
Basic Earnings (Loss) and Shares
    52,249     $ 9,498     $ 0.18     $ (1,156 )   $ (0.02 )   $ 8,342     $ 0.16  
Effect of Dilutive Securities:
                                                       
Contingently Convertible Debt ( 5.0% Convertible Notes)
    12,890       2,128               —               2,128          
Stock Compensation Plans
    668                                                  
 
                           
Diluted Earnings (Loss) and Shares
    65,807     $ 11,626     $ 0.18     $ (1,156 )   $ (0.02 )   $ 10,470     $ 0.16  
 
                           
                                                         
    For the Six Months Ended June 30, 2011
            Income     Loss        
            From Continuing     From Discontinued        
            Operations   Operations   Net Income
    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
    52,438     $ 37,942             $ (1,627 )           $ 36,315          
Effect of Participating Securities:
                                                       
Non-vested Restricted Stock
                                                       
and Stock Units
    —       (498 )             —               (498 )        
 
                           
Basic Earnings (Loss) and Shares
    52,438     $ 37,444     $ 0.71     $ (1,627 )   $ (0.03 )   $ 35,817     $ 0.68  
Effect of Dilutive Securities:
                                                       
Contingently Convertible
                                                       
Debt ( 5.0% Convertible Notes)
    12,890       4,604               —               4,604          
Stock Compensation Plans
    615                                                  
 
                           
Diluted Earnings (Loss) and Shares
    65,943     $ 42,048     $ 0.64     $ (1,627 )   $ (0.03 )   $ 40,421     $ 0.61  
 
                           
                                                         
    For the Six Months Ended June 30, 2010
            Income     Loss        
            From Continuing     From Discontinued        
            Operations   Operations   Net Income
    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
    52,070     $ 16,158             $ (3,568 )           $ 12,590          
Effect of Participating Securities:
                                                       
Non-vested Restricted Stock and Stock Units
    —       (160 )             —               (160 )        
 
                           
Basic Earnings (Loss) and Shares
    52,070     $ 15,998     $ 0.31     $ (3,568 )   $ (0.07 )   $ 12,430     $ 0.24  
Effect of Dilutive Securities:
                                                       
Stock Compensation Plans
    679                                                  
 
                           
Diluted Earnings (Loss) and Shares
    52,749     $ 15,998     $ 0.30     $ (3,568 )   $ (0.06 )   $ 12,430     $ 0.24  
 
                           
          In addition to the stock options included in the table above, options to purchase approximately 2.2 million shares and 2.3 million shares of Class A common stock were outstanding at June 30, 2011 and June 30, 2010, respectively, but were not included in the computation of diluted earnings per share because the options were not dilutive. In addition, in the event the effect of potentially dilutive shares associated with any of Sonic’s convertible notes were anti-dilutive, the effect of those shares have also been excluded from the computation of diluted earnings per share.