EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2015

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,
	2015		2014		2015		2014
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	65,423	$	56,101	$	88,471	$	72,854
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		5,183		4,286		6,922		5,532

Earnings allocated to Watsco, Inc. shareholders	$	60,240	$	51,815	$	81,549	$	67,322

Weighted-average common shares outstanding - Basic		32,427,088		32,295,912		32,402,262		32,273,077
Basic earnings per share for Common and Class B common stock	$	1.86	$	1.60	$	2.52	$	2.09
Allocation of earnings for Basic:
Common stock	$	55,179	$	47,467	$	74,692	$	61,668
Class B common stock		5,061		4,348		6,857		5,654

	$	60,240	$	51,815	$	81,549	$	67,322

Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	65,423	$	56,101	$	88,471	$	72,854
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		5,179		4,281		6,917		5,526

Earnings allocated to Watsco, Inc. shareholders	$	60,244	$	51,820	$	81,554	$	67,328

Weighted-average common shares outstanding - Basic		32,427,088		32,295,912		32,402,262		32,273,077
Effect of dilutive stock options		50,174		57,133		52,036		56,299

Weighted-average common shares outstanding - Diluted		32,477,262		32,353,045		32,454,298		32,329,376

Diluted earnings per share for Common and Class B common stock	$	1.85	$	1.60	$	2.51	$	2.08
Anti-dilutive stock options not included above		2,363		—		54,535		2,873

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, therefore, no allocation of earnings to Class B common stock is required. At June 30, 2015 and 2014, our outstanding Class B common stock was convertible into 2,724,464 and 2,710,315 shares of our Common stock, respectively.