iHeartMedia, Inc. - FORM 10-K - EX-11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (LOSS) - February 14, 2011

Attached files

file filename
10-K - FORM 10-K - iHeartMedia, Inc.d10k.htm
EX-21 - SUBSIDIARIES - iHeartMedia, Inc.dex21.htm
EX-23 - CONSENT OF ERNST & YOUNG LLP - iHeartMedia, Inc.dex23.htm
EX-31.1 - CERTIFICATION PURSUANT TO RULES 13A-14(A) AND 15D-14(A) - iHeartMedia, Inc.dex311.htm
EX-31.2 - CERTIFICATION PURSUANT TO RULES 13A-14(A) AND 15D-14(A) - iHeartMedia, Inc.dex312.htm
EX-32.1 - SECTION 906 CERTIFICATION OF CEO - iHeartMedia, Inc.dex321.htm
EX-32.2 - SECTION 906 CERTIFICATION OF CFO - iHeartMedia, Inc.dex322.htm
EX-10.40 - FORM OF EXECUTIVE OPTION AGREEMENT - iHeartMedia, Inc.dex1040.htm
EX-10.43 - FORM OF EXECUTIVE OPTION AGREEMENT - iHeartMedia, Inc.dex1043.htm
EX-10.44 - FORM OF EXECUTIVE OPTION AGREEMENT - iHeartMedia, Inc.dex1044.htm
EX-10.45 - FORM OF EXECUTIVE OPTION AGREEMENT - iHeartMedia, Inc.dex1045.htm

EXHIBIT 11 – Computation of Per Share Earnings (Loss)

 

(In thousands, except per share data)    Post-Merger             Pre-Merger  
     Year ended
December 31,
2010		      Year ended
December 31,
2009		      Period from
July 31
through
December 31,
2008		             Period from
January 1
through July
30, 2008		  

NUMERATOR:

                 

Net income (loss) attributable to the Company – common shares

    $ (479,089)         $ (4,034,086)         $ (5,041,998)              $ 1,036,525     

Less: Participating securities dividends

      5,916           6,799            —                 —     

Less: Income (loss) from discontinued operations, net

      —           —            (1,845)                640,236     
                                        

Income (loss) from continuing operations attributable to the Company

    $ (485,005)           (4,040,885)           (5,040,153)                396,289     

Less: Income (loss) from continuing operations attributable to the Company – unvested shares

      —           —            —                2,333     
                                        

Income (loss) from continuing operations attributable to the Company per common share – basic and diluted

    $ (485,005)         $ (4,040,885)         $ (5,040,153)              $ 393,956     
                                        
 

DENOMINATOR:

                 

Weighted average common shares - basic

      81,653            81,296            81,242                 495,044     

Effect of dilutive securities:

                 

Stock options and common stock warrants (1)

      —            —            —                 1,475     
                                        

Denominator for net income (loss) per common share – diluted

      81,653           81,296            81,242                 496,519     
                                        
 

Net income (loss) per common share:

                 

Basic:

                 

Income (loss) attributable to the Company before discontinued operations

    $ (5.94)         $ (49.71)         $ (62.04)              $ 0.80     

Discontinued operations

      —            —            (0.02)                1.29     
                                        

Net income (loss) attributable to the Company

    $ (5.94)         $ (49.71)         $ (62.06)              $ 2.09     
                                        

Diluted:

                 

Income (loss) attributable to the Company before discontinued operations

    $ (5.94)         $ (49.71)         $ (62.04)              $ 0.80     

Discontinued operations

      —            —            (0.02)                1.29     
                                        

Net income (loss) attributable to the Company

    $ (5.94)         $ (49.71)         $ (62.06)              $ 2.09     
                                        

 

  (1) 7.2 million, 7.6 million, 7.6 million, 7.8 million, and 22.2 million stock options and restricted shares were outstanding at December 31, 2010, December 31, 2009, July 30, 2008, and December 31, 2008, respectively, that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive as the respective options’ strike price was greater than the current market price of the shares.

iHeartMedia, Inc. Reports