XML 25 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
EARNINGS PER SHARE
 9 Months Ended
Sep. 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
September 30,		      Nine Months Ended
September 30,		  
     2012      2011      2012      2011  

Basic Earnings per Share:

            

Net income attributable to Watsco, Inc. shareholders

    $ 41,005       $ 33,547       $ 88,575       $ 77,070   

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock

      2,822         2,295         6,119         5,105   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings allocated to Watsco, Inc. shareholders

    $ 38,183       $ 31,252       $ 82,456       $ 71,965   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average Common and Class B common shares outstanding for basic earnings per share

      32,107,701         30,694,844         31,529,296         30,660,843   

Basic earnings per share for Common and Class B common stock

    $ 1.19       $ 1.02       $ 2.62       $ 2.35   

Allocation of earnings for Basic:

            

Common stock

    $ 34,789       $ 28,347       $ 74,992       $ 65,268   

Class B common stock

      3,394         2,905         7,464         6,697   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 38,183       $ 31,252       $ 82,456       $ 71,965   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted Earnings per Share:

            

Net income attributable to Watsco, Inc. shareholders

    $ 41,005       $ 33,547       $ 88,575       $ 77,070   

Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock

      2,820         2,293         6,115         5,101   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings allocated to Watsco, Inc. shareholders

    $ 38,185       $ 31,254       $ 82,460       $ 71,969   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average Common and Class B common shares outstanding for basic earnings per share

      32,107,701         30,694,844         31,529,296         30,660,843   

Effect of dilutive stock options

      60,465         63,688         68,242         80,452   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average Common and Class B common shares outstanding for diluted earnings per share

      32,168,166         30,758,532         31,597,538         30,741,295   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted earnings per share for Common and Class B common stock

    $ 1.19       $ 1.02       $ 2.61       $ 2.34   

Anti-dilutive stock options not included in above

      2,283         132,750         11,445         22,322   

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 September 30, 2012 and 2011, our outstanding Class B common stock was convertible into 2,854,055 and 2,853,096 shares of our Common stock, respectively.