Quarterly report pursuant to Section 13 or 15(d)

EQUITY AND EARNINGS PER SHARE (Tables)

v3.4.0.3
EQUITY AND EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2016
Stockholders' Equity Note [Abstract]  
Schedule of outstanding options
The following is a summary of the changes in Newcastle’s outstanding options for the three months ended March 31, 2016:

 
Number of Options
 
Weighted Average Strike Price
 
Weighted Average Life Remaining (in years)
Balance at December 31, 2015
5,421,561

 
$
2.85

 
 
Granted (A)
333

 
3.78

 
 
Balance at March 31, 2016
5,421,894

 
$
2.86

 
6.54
 
 
 
 
 
 
Exercisable at March 31, 2016
5,054,766

 
$
2.78

 
6.37

(A)
Options granted to a non-employee director upon joining the board of directors.

Schedule of outstanding options summary
As of March 31, 2016, Newcastle’s outstanding options were summarized as follows:
 
Issued Prior to 2011
 
Issued in 2011 and thereafter
 
Total
Held by the Manager
115,239

 
5,010,243

 
5,125,482

Issued to the Manager and subsequently transferred to certain of the Manager’s employees
29,422

 
266,657

 
296,079

Issued to the independent directors
—

 
333

 
333

Total
144,661

 
5,277,233

 
5,421,894

Weighted average strike price
$
13.18

 
$
2.57

 
$
2.86

Schedule of amounts used in computing basic and diluted EPS
Newcastle is required to present both basic and diluted earnings per share (“EPS”). The following table shows the amounts used in computing basic and diluted EPS:
 
Three Months Ended March 31,
 
2016
 
2015
Numerator for basic and diluted earnings per share:
 
 
 
Income (loss) from continuing operations after preferred dividends and noncontrolling interests
$
72,024

 
$
(2,207
)
Income from discontinued operations, net of tax
—

 
115

Income (loss) Applicable to Common Stockholders
$
72,024

 
$
(2,092
)
 
 
 
 
Denominator:
 
 
 
Denominator for basic earnings per share - weighted average shares
66,654,598

 
66,424,508

Effect of dilutive securities
 
 
 
Options
1,630,300

 
—

Denominator for diluted earnings per share - adjusted weighted average shares
68,284,898

 
66,424,508

 
 
 
 
Basic earnings per share:
 
 
 
Income (loss) from continuing operations per share of common stock, after preferred dividends and noncontrolling interests
$
1.08

 
$
(0.03
)
Income from discontinued operations per share of common stock
$
—

 
$
—

Income (loss) Applicable to Common Stock, per share
$
1.08

 
$
(0.03
)
 
 
 
 
Diluted earnings per share:
 
 
 
Income (loss) from continuing operations per share of common stock, after preferred dividends and noncontrolling interests
$
1.05

 
$
(0.03
)
Income from discontinued operations per share of common stock
$
—

 
$
—

Income (loss) Applicable to Common Stock, per share
$
1.05

 
$
(0.03
)