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,
	2018		2017
Numerator:
Common:
Distributed earnings	$	3,491	$	2,317
Undistributed earnings		2,320		3,180
Basic		5,811		5,497
Class A Common earnings		502		489
Diluted	$	6,313	$	5,986

Class A Common:
Distributed earnings	$	301	$	204
Undistributed earnings		201		285
	$	502	$	489
Denominator:
Common:
Weighted average shares outstanding - basic		19,418		19,297
Assumed conversion of Class A Common Stock		1,767		1,813
Dilutive options, awards and common stock equivalents		420		430

Total weighted-average diluted Common Stock		21,605		21,540

Class A Common:
Weighted average shares outstanding		1,767		1,813
Basic earnings per share:
Common Stock	$	0.30	$	0.28
Class A Common Stock	$	0.28	$	0.27

Diluted earnings per share:
Common Stock	$	0.29	$	0.28
Class A Common Stock	$	0.28	$	0.27