Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Earnings Per Share

v3.3.1.900
Earnings Per Share
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

 26. Earnings per share

Basic earnings per share (“EPS”) is calculated by dividing net income by the weighted average number of our ordinary shares outstanding, which excludes 3,030,724,  232,140 and 139,920 unvested restricted stock as of December 31, 2015, 2014 and 2013, respectively. For the calculation of diluted EPS, the weighted average of our ordinary shares outstanding for basic EPS is adjusted by the effect of dilutive securities, including awards under our equity compensation plans. The number of shares excluded from diluted shares outstanding was 36,666,  nil and 1.3 million for the years ended December 31, 2015, 2014 and 2013, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

The computations of outstanding shares for basic EPS as of December 31, 2015 and 2014 were as follows:

 

 

 

 

 

 

As of December 31,

 

2015

 

2014

 

Number of ordinary shares

Ordinary shares issued

203,411,207 

 

212,318,291 

Treasury shares

(3,069,003)

 

 —

Ordinary shares outstanding

200,342,204 

 

212,318,291 

Unvested restricted stock

(3,030,724)

 

(232,140)

Ordinary shares outstanding for basic EPS

197,311,480 

 

212,086,151 

 

The computations of basic and diluted EPS for the years ended December 31, 2015, 2014 and 2013 were as follows:

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2015

 

2014

 

2013

Net income for the computation of basic EPS

$

1,178,730 

 

$

810,447 

 

$

292,410 

Weighted average ordinary shares outstanding - basic

 

203,850,828 

 

 

175,912,662 

 

 

113,463,813 

Basic EPS

$

5.78 

 

$

4.61 

 

$

2.58 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2015

 

2014

 

2013

Net income for the computation of diluted EPS

$

1,178,730 

 

$

810,447 

 

$

292,410 

Weighted average ordinary shares outstanding - diluted

 

206,224,135 

 

 

178,684,989 

 

 

115,002,458 

Diluted EPS

$

5.72 

 

$

4.54 

 

$

2.54