NOTE L – 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,
	2019		2018		2019		2018
Numerator:
Common:
Distributed earnings	$	3,338	$	3,494	$	6,725	$	6,984
Undistributed earnings		2,260		2,226		2,194		4,547
Basic		5,598		5,720		8,919		11,531
Class A Common earnings		448		494		749		996
Diluted	$	6,046	$	6,214	$	9,668	$	12,527

Class A Common:
Distributed earnings	$	261	$	300	$	560	$	601
Undistributed earnings		187		194		189		395
	$	448	$	494	$	749	$	996
Denominator:
Common:
Weighted average shares outstanding - basic		18,642		19,312		18,716		19,364
Assumed conversion of Class A Common Stock		1,621		1,766		1,689		1,767
Dilutive options, awards and common stock equivalents		279		313		318		367

Total weighted-average diluted Common Stock		20,542		21,391		20,723		21,498

Class A Common:
Weighted average shares outstanding		1,621		1,766		1,689		1,767

Basic earnings per share:
Common Stock	$	0.30	$	0.30	$	0.48	$	0.60
Class A Common Stock	$	0.28	$	0.28	$	0.44	$	0.56

Diluted earnings per share:
Common Stock	$	0.29	$	0.29	$	0.47	$	0.58
Class A Common Stock	$	0.27	$	0.28	$	0.44	$	0.56