Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Common Share (Tables)

v3.5.0.2
Earnings (Loss) Per Common Share (Tables)
9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Earnings (loss) per common share (“EPS”) and common shares used to calculate basic and diluted EPS consist of the following (amounts in thousands, except per share amounts):

 
Three Months Ended September 30,
 
2016
 
2015
 
Class A
 
Class B
 
Class A
 
Class B
Basic net income (loss) per share:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net income available to common stockholders
$
7,266

 
677

 
$
16,213

 
1,418

Less: Undistributed net income allocable to participating securities
(386
)
 

 
(920
)
 

Undistributed net income allocable to common stockholders
6,880

 
677

 
15,293

 
1,418

Denominator:
 

 
 

 
 

 
 

Weighted average common shares outstanding
32,033

 
3,154

 
34,031

 
3,155

Basic net income attributable to GCI common stockholders per common share
$
0.21

 
0.21

 
$
0.45

 
0.45


 
Three Months Ended September 30,
 
2016
 
2015
 
Class A
 
Class B
 
Class A
 
Class B
Diluted net loss per share:
 

 
 

 
 

 
 

Numerator:
 

 
 

 
 

 
 

Undistributed net income allocable to common stockholders for basic computation
$
6,880

 
677

 
$
15,293

 
1,418

Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares
677

 

 
1,418

 

Reallocation of undistributed earnings as a result of conversion of dilutive securities
141

 
(247
)
 
22

 
(34
)
Effect of derivative instrument that may be settled in cash or shares
(2,827
)
 

 
(18
)
 

Effect of share based compensation that may be settled in cash or shares
(32
)
 

 
4

 

Undistributed net income adjusted for allocation of undistributed earnings and effect of contracts that may be settled in cash or shares
$
4,839

 
430

 
$
16,719

 
1,384

Denominator:
 

 
 

 
 

 
 

Number of shares used in basic computation
32,033

 
3,154

 
34,031

 
3,155

Conversion of Class B to Class A common shares outstanding
3,154

 

 
3,155

 

Effect of derivative instrument that may be settled in cash or shares
264

 

 
781

 

Unexercised stock options
1

 

 
122

 

Effect of share based compensation that may be settled in cash or shares
26

 

 
26

 

Number of shares used in per share computation
35,478

 
3,154

 
38,115

 
3,155

Diluted net income attributable to GCI common stockholders per common share
$
0.14

 
0.14

 
$
0.44

 
0.44


 
Nine Months Ended September 30,
 
2016
 
2015
 
Class A
 
Class B
 
Class A
 
Class B
Basic net income (loss) per share:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net income (loss) available to common stockholders
$
11,422

 
1,035

 
$
(15,838
)
 
(1,427
)
Less: Undistributed net income allocable to participating securities
(588
)
 

 

 

Undistributed net income (loss) allocable to common stockholders
10,834

 
1,035

 
(15,838
)
 
(1,427
)
Denominator:
 

 
 

 
 

 
 

Weighted average common shares outstanding
33,008

 
3,154

 
35,037

 
3,158

Basic net income (loss) attributable to GCI common stockholders per common share
$
0.33

 
0.33

 
$
(0.45
)
 
(0.45
)
 
Nine Months Ended September 30,
 
2016
 
2015
 
Class A
 
Class B
 
Class A
 
Class B
Diluted net loss per share:
 

 
 

 
 

 
 

Numerator:
 

 
 

 
 

 
 

Undistributed net income (loss) allocable to common stockholders for basic computation
$
10,834

 
1,035

 
$
(15,838
)
 
(1,427
)
Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares
1,035

 

 
(1,427
)
 

Reallocation of undistributed earnings as a result of conversion of dilutive securities
447

 
(787
)
 

 

Effect of derivative instrument that may be settled in cash or shares
(9,327
)
 

 

 

Effect of share based compensation that may be settled in cash or shares
(93
)
 

 

 

Undistributed net income (loss) adjusted for allocation of undistributed earnings (loss) and effect of contracts that may be settled in cash or shares
$
2,896

 
248

 
$
(17,265
)
 
(1,427
)
Denominator:
 

 
 

 
 

 
 

Number of shares used in basic computation
33,008

 
3,154

 
35,037

 
3,158

Conversion of Class B to Class A common shares outstanding
3,154

 

 
3,158

 

Effect of derivative instrument that may be settled in cash or shares
602

 

 

 

Unexercised stock options
3

 

 

 

Effect of share based compensation that may be settled in cash or shares
26

 

 

 

Number of shares used in per share computation
36,793

 
3,154

 
38,195

 
3,158

Diluted net income (loss) attributable to GCI common stockholders per common share
$
0.08

 
0.08

 
$
(0.45
)
 
(0.45
)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
Weighted average shares associated with outstanding securities for the three and nine months ended September 30, 2016 and 2015, which have been excluded from the computations of diluted EPS, because the effect of including these securities would have been anti-dilutive, consist of the following (shares, in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Derivative instrument that may be settled in cash or shares, the effect of which is anti-dilutive

 

 

 
595

Shares associated with anti-dilutive unexercised stock options

 

 

 
120

Share-based compensation that may be settled in cash or shares, the effect of which is anti-dilutive

 

 

 
26

Total excluded

 

 

 
741