Clear Channel Outdoor (CCO) 10-Q 2015 Q3 Quarterly report

EXHIBIT 11 – COMPUTATION OF INCOME (LOSS) PER SHARE
(In thousands, except per share data)		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2015		2014		2015		2014
NUMERATOR:
Net income (loss) attributable to the       Company – common shares		$	(22,581)	$	(7,063)	$	(54,689)	$	(52,896)
	Less: Participating securities dividends		-		-		-		-
Net income (loss) attributable to the Company per       common share – basic and diluted		$	(22,581)	$	(7,063)	$	(54,689)	$	(52,896)
DENOMINATOR:
Weighted average common shares outstanding – basic			359,689		358,653		359,442		358,502
Effect of dilutive securities:
	Stock options and restricted stock (1)		-		-		-		-
Weighted average common shares outstanding – diluted			359,689		358,653		359,442		358,502
Net income (loss) attributable to the Company       per common share:
	Basic	$	(0.06)	$	(0.02)	$	(0.15)	$	(0.15)
	Diluted	$	(0.06)	$	(0.02)	$	(0.15)	$	(0.15)
(1)	Equity awards of 8.8 million and 8.9 million were outstanding for the three months ended September 30, 2015 and 2014, respectively, and 8.8 million and 8.9 million were outstanding for the nine months ended September 30, 2015 and 2014, respectively, but were not included in the computation of diluted earnings per share because to do so would have been antidilutive.