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Emma 芊~ · 2021年01月06日

问一道题:NO.PZ2016012101000066

问题如下:

Cell Services Inc. (CSI) had 1,000,000 average shares outstanding during all of 2009. During 2009, CSI also had 10,000 options outstanding with exercise prices of $10 each. The average stock price of CSI during 2009 was $15. For purposes of computing diluted earnings per share, how many shares would be used in the denominator?

选项:

A.

1,003,333.

B.

1,006,667.

C.

1,010,000.

解释:

A is correct.

With stock options, the treasury stock method must be used. Under that method, the company would receive $100,000 (10,000 × $10) and would repurchase 6,667 shares ($100,000/$15). The shares for the denominator would be:

 解析:考点是diluted EPS分母的计算。①当年在外发行的股份数= 1,000,000。②由于option行权价低于股票平均价,我们判断会行权,因此期权行权增加了10,000股股份。③但是公司也拿到融资$100,000,再用这些钱按照平均价回购股票,回购份数=$100,000/$15=6667,分母= 1,000,000+10,000-6667=1,003,333。

这边为什么要用到treasury_stock_method?题干没有提到呢。考试中如何判断是分母直接+stock_option_converted_qty还是用treasury_stock_method?

1 个答案

纠纠_品职答疑助手 · 2021年01月07日

嗨,爱思考的PZer你好:


当公司有期权或者认股权证这样的衍生品在外发售,如果行权可能会引起所share outstanding的情形下,我们用treasury stock method这个方法去计算。

在有期权的情况下,行权是既有现金变动,又有股份变动的。

期权和可转债这样的形式是不同的,可转债是直接从债权转成股权,不涉及到其他的交易,所以是直接加上需要转化的股份。

 


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虽然现在很辛苦,但努力过的感觉真的很好,加油!


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