Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v3.3.1.900
EARNINGS PER SHARE
12 Months Ended
Dec. 31, 2015
EARNINGS PER SHARE
3. EARNINGS PER SHARE

The Company considers its unvested share based payment awards, which contain non-forfeitable rights to dividends, participating securities, and includes such participating securities in its computation of earnings per share pursuant to the two-class method. Basic earnings per share for the two classes of stock (common stock and unvested restricted stock) is calculated by dividing net income by the weighted average number of shares of common stock and unvested restricted stock outstanding during the reporting period. Diluted earnings per share is calculated using the weighted average number of shares of common stock and unvested restricted stock plus the potentially dilutive effect of common equivalent shares outstanding determined under both the two class method and the treasury stock method.

 

The following table presents computations of basic and diluted earnings per share under the two class method:

 

     Year ended December 31,  
     2013      2014      2015  

Numerator:

        

Net income attributable to Cinemark Holdings, Inc.

   $ 148,470       $ 192,610       $ 216,869   

Earnings allocated to participating share-based awards (1)

     (1,530      (1,345      (1,306
  

 

 

    

 

 

    

 

 

 

Net income attributable to common stockholders

   $ 146,940       $ 191,265       $ 215,563   
  

 

 

    

 

 

    

 

 

 

Denominator (shares in thousands):

        

Basic weighted average common stock outstanding

     113,896         114,653         115,080   

Common equivalent shares for stock options

     9         —           —     

Common equivalent shares for restricted stock units

     491         313         319   
  

 

 

    

 

 

    

 

 

 

Diluted

     114,396         114,966         115,399   
  

 

 

    

 

 

    

 

 

 

Basic earnings per share attributable to common stockholders

   $ 1.28       $ 1.66       $ 1.87   
  

 

 

    

 

 

    

 

 

 

Diluted earnings per share attributable to common stockholders

   $ 1.28       $ 1.66       $ 1.87   
  

 

 

    

 

 

    

 

 

 

 

(1) 

For the years ended December 31, 2013, 2014 and 2015, a weighted average of approximately 1,198 shares, 810 shares and 699 shares, of unvested restricted stock, respectively, are considered participating securities.