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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 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:
Years Ended December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
Basic Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Watsco, Inc. shareholders |  | $ | 103,334 |  |  | $ | 90,450 |  |  | $ | 80,760 |
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock |  |  | 17,656 |  |  |  | 6,045 |  |  |  | 4,775 |
Earnings allocated to Watsco, Inc. shareholders |  | $ | 85,678 |  |  | $ | 84,405 |  |  | $ | 75,985 |
Weighted-average Common and Class B common shares outstanding for basic earnings per share |  |  | 31,680,187 |  |  |  | 30,678,206 |  |  |  | 30,467,212 |
Basic earnings per share for Common and Class B common stock |  | $ | 2.70 |  |  | $ | 2.75 |  |  | $ | 2.49 |
Allocation of earnings for Basic: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 78,359 |  |  | $ | 76,574 |  |  | $ | 68,856 |
Class B common stock |  |  | 7,319 |  |  |  | 7,831 |  |  |  | 7,129 |
|  | $ | 85,678 |  |  | $ | 84,405 |  |  | $ | 75,985 |
Diluted Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Watsco, Inc. shareholders |  | $ | 103,334 |  |  | $ | 90,450 |  |  | $ | 80,760 |
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock |  |  | 17,656 |  |  |  | 6,042 |  |  |  | 4,772 |
Earnings allocated to Watsco, Inc. shareholders |  | $ | 85,678 |  |  | $ | 84,408 |  |  | $ | 75,988 |
Weighted-average Common and Class B common shares outstanding for basic earnings per share |  |  | 31,680,187 |  |  |  | 30,678,206 |  |  |  | 30,467,212 |
Effect of dilutive stock options |  |  | 64,212 |  |  |  | 75,085 |  |  |  | 111,396 |
Weighted-average Common and Class B common shares outstanding for diluted earnings per share |  |  | 31,744,399 |  |  |  | 30,753,291 |  |  |  | 30,578,608 |
Diluted earnings per share for Common and Class B common stock |  | $ | 2.70 |  |  | $ | 2.74 |  |  | $ | 2.49 |
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 December 31, 2012, 2011 and 2010, our outstanding Class B common stock was convertible into 2,706,338, 2,846,334 and 2,858,592 shares of our Common stock, respectively. Diluted earnings per share excluded 17,492, 33,511 and 129,641 shares for the years ended December 31, 2012, 2011 and 2010, respectively, related to stock options with an exercise price per share greater than the average market value, resulting in an anti-dilutive effect on diluted earnings per share.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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