Yahoo 2014 Annual Report Download - page 122
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principal amount of the Notes in cash upon conversion. As a result, upon conversion of the Notes,
only the amounts payable in excess of the principal amounts of the Notes are considered in diluted
earnings per share under the treasury stock method.
The denominator for diluted net income per share for 2014 also does not include any effect from the
note hedges. In future periods, the denominator for diluted net income per share will exclude any
effect of the note hedges, if their effect would be anti-dilutive. In the event an actual conversion of
any or all of the Notes occurs, the shares that would be delivered to the Company under the note
hedges are designed to neutralize the dilutive effect of the shares that the Company would issue
under the Notes. See Note 11—”Convertible Notes” for additional information.
The following table sets forth the computation of basic and diluted net income per share (in
thousands, except per share amounts):
Years Ended December 31,
2012 2013 2014
Basic:
Numerator:
Net income attributable to Yahoo! Inc.
$3,945,479 $1,366,281 $7,521,731
Less: Net income allocated to participating securities
(56) (28) (68)
Net income attributable to Yahoo! Inc. common stockholders—basic
$3,945,423 $1,366,253 $7,521,663
Denominator:
Weighted average common shares
1,192,775 1,052,705 987,819
Net income attributable to Yahoo! Inc. common stockholders per
share—basic
$ 3.31 $ 1.30 $ 7.61
Diluted:
Numerator:
Net income attributable to Yahoo! Inc.
$3,945,479 $1,366,281 $7,521,731
Less: Net income allocated to participating securities
(55) (28) (67)
Less: Effect of dilutive securities issued by equity investees
(4,920) (16,656) (43,689)
Net income attributable to Yahoo! Inc. common stockholders—diluted
$3,940,504 $1,349,597 $7,477,975
Denominator:
Denominator for basic calculation
1,192,775 1,052,705 987,819
Weighted average effect of Yahoo! Inc. dilutive securities:
Restricted stock units
8,403 14,097 12,365
Stock options and employee stock purchase plan
1,728 4,009 3,924
Denominator for diluted calculation
1,202,906 1,070,811 1,004,108
Net income attributable to Yahoo! Inc. common stockholders per
share—diluted
$ 3.28 $ 1.26 $ 7.45
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