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 September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Numerator:
Common:
Distributed earnings	$	2,913	$	2,290	$	7,560	$	6,273
Undistributed earnings		2,586		4,405		9,122		9,581
Basic		5,499		6,695		16,682		15,854
Class A Common earnings		484		671		1,472		1,555
Diluted	$	5,983	$	7,366	$	18,154	$	17,409

Class A Common:
Distributed earnings	$	256	$	227	$	663	$	612
Undistributed earnings		228		444		809		943
	$	484	$	671	$	1,472	$	1,555
Denominator:
Common:
Weighted average shares outstanding - basic		19,421		19,083		19,365		19,615
Assumed conversion of Class A Common Stock		1,798		2,021		1,804		2,026
Dilutive options, awards and common stock equivalents		391		332		413		331

Total weighted-average diluted Common Stock		21,610		21,436		21,582		21,972

Class A Common:
Weighted average shares outstanding		1,798		2,021		1,804		2,026

Basic earnings per share:
Common Stock	$	0.28	$	0.35	$	0.86	$	0.81
Class A Common Stock	$	0.27	$	0.33	$	0.82	$	0.77

Diluted earnings per share:
Common Stock	$	0.28	$	0.34	$	0.84	$	0.79
Class A Common Stock	$	0.27	$	0.33	$	0.81	$	0.76