Terex Corporation Just Filed Its Quarterly Report: EARNINGS PER SHARE(i...

EARNINGS PER SHARE
(in millions, except per share data)
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
Income (loss) from continuing operations attributable to Terex Corporation Common Stockholders
$
95.4

 
$
109.6

 
$
35.1

 
$
87.6

Income (loss) from discontinued operations–net of tax

 
(44.6
)
 

 
(96.8
)
Gain (loss) on disposition of discontinued operations–net of tax
5.4

 
0.1

 
61.1

 
3.5

Net income (loss) attributable to Terex Corporation
$
100.8

 
$
65.1

 
$
96.2

 
$
(5.7
)
Basic shares:
 
 
 

 
 
 
 
Weighted average shares outstanding
95.7

 
109.2

 
100.4

 
109.0

Earnings (loss) per share – basic:
 

 
 

 
 
 
 
Income (loss) from continuing operations
$
0.99

 
$
1.01

 
$
0.35

 
$
0.81

Income (loss) from discontinued operations–net of tax

 
(0.41
)
 

 
(0.89
)
Gain (loss) on disposition of discontinued operations–net of tax
0.06

 

 
0.61

 
0.03

Net income (loss) attributable to Terex Corporation
$
1.05

 
$
0.60

 
$
0.96

 
$
(0.05
)
Diluted shares:
 

 
 

 
 
 
 
Weighted average shares outstanding - basic
95.7

 
109.2

 
100.4

 
109.0

Effect of dilutive securities:
 

 
 

 
 
 
 
Stock options and restricted stock awards
1.4

 
0.4

 
1.8

 
0.6

Diluted weighted average shares outstanding
97.1

 
109.6

 
102.2

 
109.6

Earnings (loss) per share – diluted:
 

 
 

 
 
 
 
Income (loss) from continuing operations
$
0.98

 
$
1.00

 
$
0.34

 
$
0.80

Income (loss) from discontinued operations–net of tax

 
(0.41
)
 

 
(0.88
)
Gain (loss) on disposition of discontinued operations–net of tax
0.06

 

 
0.60

 
0.03

Net income (loss) attributable to Terex Corporation
$
1.04

 
$
0.59

 
$
0.94

 
$
(0.05
)

 

Weighted average options to purchase approximately 8,000 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), were outstanding during the three and six months ended June 30, 2017, but were not included in the computation of diluted shares as the effect would be anti-dilutive.  Weighted average options to purchase approximately 102,000 and 121,000 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), were outstanding during the three and six months ended June 30, 2016, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive. Weighted average restricted stock awards of approximately 47,000 and 90,000 were outstanding during the three and six months ended June 30, 2017, respectively, but were not included in the computation of diluted shares because the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. Weighted average restricted stock awards of approximately 894,000 and 1,361,000 were outstanding during the three and six months ended June 30, 2016, respectively, but were not included in the computation of diluted shares because the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. ASC 260, “Earnings per Share,” requires that employee stock options and non-vested restricted shares granted by the Company be treated as potential common shares outstanding in computing diluted earnings per share. Under the treasury stock method, the amount the employee must pay for exercising stock options and the amount of compensation cost for future services that the Company has not yet recognized are assumed to be used to repurchase shares.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Terex Corporation director just disposed of 2,178 shares - April 17, 2018
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Senior Vice President of Terex Corporation just picked up 513 shares - April 10, 2018
SVP Finance of Terex Corporation just picked up 8,441 shares - April 10, 2018
Terex Announces Increase In Revolving Credit Facility - April 10, 2018

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