The following table presents the calculation of basic and diluted earnings per share for our Common and Class B common stock:


*Quarters Ended March 31,*	2017		2016
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders		$ 26,181		$ 25,537
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		3,120		2,413

Earnings allocated to Watsco, Inc. shareholders		$ 23,061		$ 23,124


Weighted-average common shares outstanding – Basic		32,642,612		32,511,806

Basic earnings per share for Common and Class B common stock		$ 0.71		$ 0.71

Allocation of earnings for Basic:
Common stock		$ 21,147		$ 21,205
Class B common stock		1,914		1,919

		$ 23,061		$ 23,124


Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders		$ 26,181		$ 25,537
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		3,120		2,413

Earnings allocated to Watsco, Inc. shareholders		$ 23,061		$ 23,124


Weighted-average common shares outstanding – Basic		32,642,612		32,511,806
Effect of dilutive stock options		37,194		25,419

Weighted-average common shares outstanding – Diluted		32,679,806		32,537,225


Diluted earnings per share for Common and Class B common stock		$ 0.71		$ 0.71