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Note 23. Earnings per share

Basic net earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding for that period. The dilutive effect is calculated using the treasury stock method. The calculation of diluted net income per share assumes the exercise of options issued under our stock option plans (and the issuance of shares under our share plans) for periods in which exercised (or issuances) would have a dilutive effect.The calculation of diluted net income per share does not assume exercise of options (or issuance of shares) when such exercises (or issuances) would be anti-dilutive.

The calculation of basic and diluted net income per share attributable to common shareholders is based on the following data:

 December 31,
 20142015
Net earnings used for purposes of calculating net income per common share
Net earnings from continuing operations, attributable to common shareholders138,160157,277
Net earnings from discontinued operations3,157
Net earnings from operations141,317157,277
Basic weighted average number of shares outstanding during the year (thousands)63,51062,114
Effect of dilutive potential common shares from stock options and restricted shares699814
Dilutive weighted average number of shares outstanding64,20962,928
Basic net earnings per share:
from continuing operations2.182.53
from discontinued operations0.05
from operations2.232.53
Diluted net earnings per share:
from continuing operations2.152.50
from discontinued operations0.05
from operations2.202.50