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1) PDL Biopharma, Inc

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1) PDL Biopharma, Inc., a biotechnology company, reported net income (amounts in thousands) of $91,874 for Year 10. The weighted average of common shares outstanding during Year 10 was 126,578 shares. PDL Biopharma, Inc., subtracted interest expense net of tax saving on convertible debt of $5,087. If the convertible debt had been converted into common stock, it would have increased the weighted-average common shares outstanding by 52,111 shares. PDL Biopharma, Inc., has outstanding stock options and other dilutive securities that if exercised, would increase the weighted average of common shares outstanding by 112 shares.

1. Basic earnings per share for Year 10 equals _________  
2. Diluted earnings per share for Year 10 equals _________