Notes to Consolidated Financial Statements
Yellow Corporation and Subsidiaries
Earnings Per Common Share
| (in thousands except per share data) |
 |
2002 |
|
|
|
2001 |
|
|
|
2000 |
|
|
|
|
|
|
|
|
|
| Income from continuing operations |
$ |
23,973 |
|
$ |
10,589 |
|
$ |
61,605 |
|
| Income (loss) from discontinued operations |
|
(117,875 |
) |
|
4,712 |
|
|
6,413 |
|
|
| Net income (loss) |
$ |
(93,902 |
) |
$ |
15,301 |
|
$ |
68,018 |
|
|
Average common shares outstanding - basic |
|
28,004 |
|
|
24,376 |
|
|
24,649 |
|
| Effect of dilutive options and restricted stock |
|
367 |
|
|
303 |
|
|
138 |
|
|
| Average common shares outstanding - diluted |
|
28,371 |
|
|
24,679 |
|
|
24,787 |
|
Basic earnings per share:
Income from continuing operations |
$ |
0.86 |
|
$ |
0.44 |
|
$ |
2.50 |
|
| Income (loss) from discontinued operations |
|
(4.21 |
) |
|
0.19 |
|
|
0.26 |
|
|
| Net income (loss) |
$ |
(3.35 |
) |
$ |
0.63 |
|
$ |
2.76 |
|
|
Effect of dilutive options on earnings per share:
Income from continuing operations |
$ |
(0.02 |
) |
$ |
(0.01 |
) |
$ |
(0.01 |
) |
| Income (loss) from discontinued operations |
|
0.06 |
|
|
- |
|
|
(0.01 |
) |
|
| Net income (loss) |
$ |
0.04 |
|
$ |
(0.01 |
) |
$ |
(0.02 |
) |
|
Diluted earnings per share:
Income from continuing operations |
$ |
0.84 |
|
$ |
0.43 |
|
$ |
2.49 |
|
| Income (loss) from discontinued operations |
|
(4.15 |
) |
|
0.19 |
|
|
0.25 |
|
|
| Net income (loss) |
$ |
(3.31 |
) |
$ |
0.62 |
|
$ |
2.74 |
|
|
|
The impacts of certain options were excluded from the calculation of diluted earnings per share
because average exercise prices were greater than the average market price of common shares.
Data regarding those options is summarized below:
| (in thousands except per share data) |
|
2002 |
|
|
|
2001 |
|
|
|
2000 |
|
|
|
|
|
|
|
|
|
| Weighted average option shares outstanding |
|
129 |
|
|
611 |
|
|
1,500 |
|
| Weighted average exercise price |
$ |
29.67 |
|
$ |
24.18 |
|
$ |
20.79 |
|
|
|
|
