Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Numerator:
Common:
Distributed earnings	$	1,970	$	1,651	$	3,982	$	3,297
Undistributed earnings		2,924		2,761		5,172		6,698
Basic		4,894		4,412		9,154		9,995
Class A Common earnings		480		421		889		957
Diluted	$	5,374	$	4,833	$	10,043	$	10,952

Class A Common:
Distributed earnings	$	193	$	156	$	386	$	312
Undistributed earnings		287		265		503		645
	$	480	$	421	$	889	$	957
Denominator:
Common:
Weighted average shares outstanding - basic		19,645		20,600		19,883		20,585
Assumed conversion of Class A Common Stock		2,027		2,079		2,029		2,080
Dilutive options, awards and common stock equivalents		317		276		331		302

Total weighted-average diluted Common Stock		21,989		22,955		22,243		22,967

Class A Common:
Weighted average shares outstanding		2,027		2,079		2,029		2,080