The following table presents the calculation of basic and diluted earnings per common share for our Common and Class B common stock:


	Quarter Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	39,103	$	36,023	$	47,570	$	43,523
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		2,704		2,456		3,298		2,832

Earnings allocated to Watsco, Inc. shareholders	$	36,399	$	33,567	$	44,272	$	40,691

Weighted-average Common and Class B common shares outstanding for basic earnings per share		31,717,204		30,685,087		31,236,915		30,643,560
Basic earnings per share for Common and Class B Common stock	$	1.15	$	1.09	$	1.42	$	1.33
Allocation of earnings for Basic:
Common stock	$	33,137	$	30,445	$	40,244	$	36,901
Class B common stock		3,262		3,122		4,028		3,790

	$	36,399	$	33,567	$	44,272	$	40,691

Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	39,103	$	36,023	$	47,570	$	43,523
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		2,702		2,453		3,297		2,831

Earnings allocated to Watsco, Inc. shareholders	$	36,401	$	33,570	$	44,273	$	40,692

Weighted-average Common and Class B common shares outstanding for basic earnings per share		31,717,204		30,685,087		31,236,915		30,643,560
Effect of dilutive stock options		66,503		85,208		72,173		88,973

Weighted-average Common and Class B common shares outstanding for diluted earnings per share		31,783,707		30,770,295		31,309,088		30,732,533

Diluted earnings per share for Common and Class B common stock	$	1.15	$	1.09	$	1.41	$	1.32
Anti-dilutive stock options not included above		1,319		3,297		1,269		3,050