EARNINGS PER SHARE
We compute basic earnings per share (EPS) using net earnings for the period and the weighted average number of common shares outstanding during the period. Diluted EPS generally incorporates the additional shares issuable upon the assumed exercise of stock options and the release of restricted shares and restricted stock units (RSUs). In 2012, because of the net loss, diluted EPS was calculated using only the basic weighted average shares outstanding as the inclusion of stock options, restricted stock and RSUs would be antidilutive. Basic and diluted weighted average shares outstanding were as follows (in thousands):
|
| | | | | | |
Year Ended December 31 | 2011 | 2012 | 2013 |
Basic weighted average shares outstanding | 364,147 |
| 353,346 |
| 350,714 |
|
Dilutive effect of stock options and restricted stock/RSUs* | 3,377 |
| — |
| 2,785 |
|
Diluted weighted average shares outstanding | 367,524 |
| 353,346 |
| 353,499 |
|
* Excludes the following outstanding options to purchase shares of common stock and nonvested restricted stock because the effect of including these options and restricted shares would be antidilutive: 2011 - 23,079 and 2013 - 8,246.
