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

Earnings Per Share

v3.6.0.2
Earnings Per Share
12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

 27. 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 3,426,810,  3,030,724 and 232,140 unvested restricted stock as of December 31, 2016,  2015 and 2014, 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 152,314,  36,666 and nil for the years ended December 31, 2016,  2015 and 2014, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.

The computations of basic and diluted EPS for the years ended December 31, 2016,  2015 and 2014 were as follows:



 

 

 

 

 

 

 

 



Year Ended December 31,



2016

 

2015

 

2014

Net income for the computation of basic EPS

$

1,046,630 

 

$

1,178,730 

 

$

810,447 

Weighted average ordinary shares outstanding - basic

 

185,514,370 

 

 

203,850,828 

 

 

175,912,662 

Basic EPS

$

5.64 

 

$

5.78 

 

$

4.61 



 

 

 

 

 

 

 

 



Year Ended December 31,



2016

 

2015

 

2014

Net income for the computation of diluted EPS

$

1,046,630 

 

$

1,178,730 

 

$

810,447 

Weighted average ordinary shares outstanding - diluted

 

189,682,036 

 

 

206,224,135 

 

 

178,684,989 

Diluted EPS

$

5.52 

 

$

5.72 

 

$

4.54 

The computations of ordinary shares outstanding, excluding unvested restricted stock, as of December 31, 2016,  2015 and 2014 were as follows:





 

 

 

 

 



As of December 31,



2016

 

2015

 

2014



Number of ordinary shares

Ordinary shares issued

187,847,345 

 

203,411,207 

 

212,318,291 

Treasury shares

(11,600,191)

 

(3,069,003)

 

 —

Ordinary shares outstanding

176,247,154 

 

200,342,204 

 

212,318,291 

Unvested restricted stock

(3,426,810)

 

(3,030,724)

 

(232,140)

Ordinary shares outstanding, excluding unvested restricted stock

172,820,344 

 

197,311,480 

 

212,086,151