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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2012
EARNINGS PER SHARE

2. EARNINGS PER SHARE

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   

Diluted earnings per share for our Common stock assumes the conversion of all of our Class B common stock into Common stock as of the beginning of the fiscal year and adjusts for the dilutive effects of outstanding stock options using the treasury stock method; therefore, no allocation of earnings to Class B common stock is required. As of June 30, 2012 and 2011, our outstanding Class B common stock was convertible into 2,842,055 and 2,854,093 shares of our Common stock, respectively.