Earnings Per Share

3 Months Ended

Mar. 31, 2017

NOTE J – 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,
	2017		2016
Numerator:
Common:
Distributed earnings	$	2,317	$	2,012
Undistributed earnings		3,180		2,248
Basic		5,497		4,260
Class A Common earnings		489		409
Diluted	$	5,986	$	4,669

Class A Common:
Distributed earnings	$	204	$	193
Undistributed earnings		285		216
	$	489	$	409
Denominator:
Common:
Weighted average shares outstanding - basic		19,297		20,121
Assumed conversion of Class A Common Stock		1,813		2,031
Dilutive options, awards and common stock equivalents		430		344

Total weighted-average diluted Common Stock		21,540		22,496

Class A Common:
Weighted average shares outstanding		1,813		2,031