Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER COMMON SHARE

v3.5.0.2
EARNINGS (LOSS) PER COMMON SHARE
6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER COMMON SHARE
EARNINGS (LOSS) PER COMMON SHARE
Basic earnings per common share of the Company are computed based on the weighted average number of common shares issued and outstanding during the relevant periods. Diluted earnings per common share of the Company are computed based on the weighted average number of common shares issued and outstanding plus the effect of potentially dilutive securities through the application of the if-converted method and/or treasury method. Dilutive securities for this purpose assume all common shares have been issued pursuant to the exercise of outstanding stock options.
Computations of basic and diluted earnings per common share of the Company for the three and six months ended June 30, 2016 and 2015 were as follows (in thousands, except share and per share data):
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
 
2016
 
2015
 
2016
 
2015
Net income (loss) attributable to Era Group Inc.(1)
 
$
1,890

 
$
11,163

 
$
(1,880
)
 
$
11,148

Shares:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
 
20,361,533

 
20,273,780

 
20,290,735

 
20,235,082

Net effect of dilutive stock options and restricted stock awards based on the treasury stock method(2)
 
2,849

 
58,877

 

 
60,416

Weighted average common shares outstanding - diluted
 
20,364,382

 
20,332,657

 
20,290,735

 
20,295,498

 
 
 
 
 
 
 
 
 
Earnings (loss) per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.09

 
$
0.55

 
$
(0.09
)
 
$
0.55

Diluted
 
$
0.09

 
$
0.55

 
$
(0.09
)
 
$
0.55

____________________
(1)
Excludes net income of $48 and $170 attributable to unvested common shares for the three months ended June 30, 2016 and 2015, respectively, and $0 and $143 for the six months ended June 30, 2016 and 2015, respectively.
(2)
Excludes weighted average common shares of 283,764 and 105,000 for the three months ended June 30, 2016 and 2015, respectively, and 292,840 and 79,000 for the six months ended June 30, 2016 and 2015, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.