Earnings Per Share

3 Months Ended

Mar. 31, 2016

NOTE K – Earnings Per Share

We report our earnings per share using the two-class method. The income per share for each class of common stock is calculated assuming 100% of our earnings are distributed as dividends to each class of common stock based on their contractual rights.

The Common Stock of the Company has a preferential dividend rate of at least 105% of the dividend paid on the Class A Common Stock. The Class A Common Stock, which has ten votes per share as opposed to one vote per share for the Common Stock (on all matters other than the election of directors), may be converted at any time on a one-for-one basis into Common Stock at the option of the holder of the Class A Common Stock.

	Three Months Ended March 31,
	2016		2015
Numerator:
Common:
Distributed earnings	$	2,012	$	1,646
Undistributed earnings		2,248		3,938
Basic		4,260		5,584
Class A Common earnings		409		535
Diluted	$	4,669	$	6,119

Class A Common:
Distributed earnings	$	193	$	156
Undistributed earnings		216		379
	$	409	$	535
Denominator:
Common:
Weighted average shares outstanding - basic		20,121		20,569
Assumed conversion of Class A Common Stock		2,031		2,081
Dilutive options, awards and common stock equivalents		344		327

Total weighted-average diluted Common Stock		22,496		22,977

Class A Common:
Weighted average shares outstanding		2,031		2,081