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,
	2014		2013		2014		2013
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	56,101	$	51,318	$	72,854	$	64,703
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		4,286		3,629		5,532		4,566

Earnings allocated to Watsco, Inc. shareholders	$	51,815	$	47,689	$	67,322	$	60,137

Weighted-average common shares outstanding - Basic		32,295,912		32,182,576		32,273,077		32,170,222
Basic earnings per share for Common and Class B common stock	$	1.60	$	1.48	$	2.09	$	1.87

Allocation of earnings for Basic:
Common stock	$	47,467	$	43,681	$	61,668	$	55,081
Class B common stock		4,348		4,008		5,654		5,056

	$	51,815	$	47,689	$	67,322	$	60,137

Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	56,101	$	51,318	$	72,854	$	64,703
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		4,281		3,623		5,526		4,560

Earnings allocated to Watsco, Inc. shareholders	$	51,820	$	47,695	$	67,328	$	60,143

Weighted-average common shares outstanding - Basic		32,295,912		32,182,576		32,273,077		32,170,222
Effect of dilutive stock options		57,133		66,279		56,299		61,024

Weighted-average common shares outstanding - Diluted		32,353,045		32,248,855		32,329,376		32,231,246

Diluted earnings per share for Common and Class B common stock	$	1.60	$	1.48	$	2.08	$	1.87

Anti-dilutive stock options not included above		—		—		2,873		—