us-gaap:ScheduleOfEarningsPerShareDilutedByCommonClassTextBlock

Line Company Text Block
1 ADOBE SYSTEMS INC
NOTE 13. NET INCOME PER SHARE
     The following table sets forth the computation of basic and diluted net income per share for the three and nine months ended August 28, 2009 and August 29, 2008 (in thousands, except per share data):
                                 
    Three Months     Nine Months  
    2009     2008     2009     2008  
Net income
  $ 136,045     $ 191,608     $ 418,551     $ 625,897  
 
                       
Shares used to compute basic net income per share
    525,911       531,060       528,015       542,624  
Dilutive potential common shares:
                               
Unvested restricted stock and performance share awards
    1,940       1,063       1,696       991  
Stock options
    3,958       9,188       3,135       9,124  
 
                       
Shares used to compute diluted net income per share
    531,809       541,311       532,846       552,739  
 
                       
Basic net income per share
  $ 0.26     $ 0.36     $ 0.79     $ 1.15  
 
                       
Diluted net income per share
  $ 0.26     $ 0.35     $ 0.79     $ 1.13  
 
                       
     For the three and nine months ended August 28, 2009, options to purchase approximately 24.5 million and 30.6 million shares, respectively, of common stock with exercise prices greater than the average fair market value of our stock of $30.40 and $24.99, respectively, were not included in the calculation because the effect would have been anti-dilutive. Comparatively, for the three and nine months ended August 29, 2008, options to purchase approximately 14.4 million and 15.4 million shares, respectively, of common stock with exercise prices greater than the average fair market value of our stock of $42.06 and $39.21, respectively, were not included in the calculation because the effect would have been anti-dilutive.
2 EASTMAN CHEMICAL CO

 
Third Quarter
  
First Nine Months
 
2009
  
2008
  
2009
  
2008
               
Shares used for earnings per share calculation (in millions):
              
Basic
72.6
  
74.2
  
72.5
  
76.1
Diluted
73.5
  
75.1
  
73.3
  
77.2

In third quarter and first nine months 2009, common shares underlying options to purchase 3,037,007 shares of common stock and 3,720,448 shares of common stock, respectively, were excluded from the computation of diluted earnings per share because the total market value of option exercises for these awards was less than the total proceeds that would be received for these awards.  There were no share repurchases in first nine months 2009.
 
In third quarter and first nine months 2008, common shares underlying options to purchase 655,884 shares of common stock and 596,784 shares of common stock, respectively, were excluded from the computation of diluted earnings per share because the total market value of option exercises for these awards was less than the total proceeds that would be received for these awards.  Third quarter and first nine months 2008 reflect the impact of share repurchases of 3.9 million and 8.1 million shares, respectively.
 
The Company declared cash dividends of $0.44 per share in third quarter 2009 and 2008 and $1.32 per share in first nine months 2009 and 2008.
3 HESS CORP
10.   Weighted Average Common Shares
     The weighted average numbers of common shares used in the basic and diluted earnings per share computations are as follows (in thousands):
                                 
    Three Months     Nine Months  
    Ended September 30,     Ended September 30,  
    2009     2008     2009     2008  
Common shares – basic
    324,066       322,365       323,796       320,159  
Effect of dilutive securities
                               
Restricted common stock
    1,213       1,670       1,163       1,866  
Stock options
    759       2,985       846       3,228  
Convertible preferred stock
    —       366       —       467  
 
                       
Common shares – diluted
    326,038       327,386       325,805       325,720  
 
                       
     The Corporation issued 3,091,080 stock options and 1,041,530 shares of restricted stock in the first nine months of 2009. The calculation of weighted average common shares excludes the effect of 3,533,000 and 3,893,000 out-of-the money options for the quarter and nine months ended September 30, 2009, respectively.
4 REYNOLDS AMERICAN INC
Note 5 — Income Per Share
     On January 1, 2009, RAI adopted authoritative GAAP that address whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share. Unvested restricted shares awarded under the 2007 and 2008 LTIP grants have been determined to be participating securities because they have non-forfeitable dividend rights equivalent to common shares. Accordingly, these restricted shares are included in the basic EPS calculation for the third quarter and first nine months of 2009 and retrospectively in the basic EPS calculation for the third quarter and first nine months of 2008.
     The components of the calculation of income per share were as follows:
                                 
    For the Three Months     For the Nine Months  
    Ended September 30,     Ended September 30,  
    2009     2008     2009     2008  
Net income
  $ 362     $ 211     $ 747     $ 1,080  
 
                       
Basic weighted average shares, in thousands
    291,371       292,388       291,380       294,050  
Effect of dilutive potential shares:
                               
Options
    130       190       137       209  
Stock units
    419       —       224       —  
 
                       
Diluted weighted average shares, in thousands
    291,920       292,578       291,741       294,259  
 
                       
5 XCEL ENERGY INC

15.       Common Stock and Equivalents

 

Xcel Energy has common stock equivalents consisting of 401(k) equity awards and stock options.  Restricted stock units and performance shares are included as common stock equivalents when all necessary conditions for issuance have been satisfied by the end of the period being reported.

 

For the three months ended Sept. 30, 2009 and 2008, Xcel Energy had approximately 7.3 million and 8.0 million stock options outstanding, respectively, that were antidilutive and excluded from the earnings per share calculation.  For the nine months ended Sept. 30, 2009 and 2008, Xcel Energy had approximately 7.7 million and 8.0 million stock options outstanding, respectively, that were antidilutive and excluded from the earnings per share calculation.

 

The dilutive impact of common stock equivalents affected earnings per share as follows for the three and nine months ended Sept. 30, 2009 and 2008:

 

 

 

Three Months Ended Sept. 30, 2009

 

Three Months Ended Sept. 30, 2008

 

 

 

 

 

 

 

Per Share

 

 

 

 

 

Per Share

 

(Amounts in thousands, except per share data)

 

Income

 

Shares

 

Amount

 

Income

 

Shares

 

Amount

 

Net income

 

$

220,828

 

 

 

 

 

$

222,789

 

 

 

 

 

Less: Dividend requirements on preferred stock

 

(1,060

)

 

 

 

 

(1,060

)

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available to common shareholders

 

219,768

 

456,769

 

$

0.48

 

221,729

 

434,131

 

$

0.51

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Convertible senior notes

 

—

 

—

 

 

 

801

 

4,663

 

 

 

401(k) equity awards

 

—

 

683

 

 

 

—

 

583

 

 

 

Stock options

 

—

 

1

 

 

 

—

 

20

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available to common shareholders and assumed conversions

 

$

219,768

 

457,453

 

$

0.48

 

$

222,530

 

439,397

 

$

0.51

 

 

 

 

Nine Months Ended Sept. 30, 2009

 

Nine Months Ended Sept. 30, 2008

 

(Amounts in thousands, except per share data)

 

Income

 

Shares

 

Per Share
Amount

 

Income

 

Shares

 

Per Share
Amount

 

Net income

 

$

512,002

 

 

 

 

 

$

481,478

 

 

 

 

 

Less: Dividend requirements on preferred stock

 

(3,180

)

 

 

 

 

(3,180

)

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available to common shareholders

 

508,822

 

456,095

 

$

1.12

 

478,298

 

431,511

 

$

1.11

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Convertible senior notes

 

—

 

—

 

 

 

2,382

 

4,663

 

 

 

401(k) equity awards

 

—

 

634

 

 

 

—

 

516

 

 

 

Stock options

 

—

 

—

 

 

 

—

 

26

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available to common shareholders and assumed conversions

 

$

508,822

 

456,729

 

$

1.11

 

$

480,680

 

436,716

 

$

1.10