Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Numerator:
Common:
Distributed earnings	$	2,330	$	1,970	$	4,646	$	3,982
Undistributed earnings		3,355		2,924		6,536		5,172
Basic		5,685		4,894		11,182		9,154
Class A Common earnings		500		480		989		889
Diluted	$	6,185	$	5,374	$	12,171	$	10,043

Class A Common:
Distributed earnings	$	203	$	193	$	407	$	386
Undistributed earnings		297		287		582		503
	$	500	$	480	$	989	$	889
Denominator:
Common:
Weighted average shares outstanding - basic		19,377		19,645		19,337		19,883
Assumed conversion of Class A Common Stock		1,801		2,027		1,807		2,029
Dilutive options, awards and common stock equivalents		418		317		424		331

Total weighted-average diluted Common Stock		21,596		21,989		21,568		22,243

Class A Common:
Weighted average shares outstanding		1,801		2,027		1,807		2,029

Basic earnings per share:
Common Stock	$	0.29	$	0.25	$	0.58	$	0.46
Class A Common Stock	$	0.28	$	0.24	$	0.55	$	0.44

Diluted earnings per share:
Common Stock	$	0.29	$	0.24	$	0.56	$	0.45
Class A Common Stock	$	0.27	$	0.23	$	0.54	$	0.43