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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2019
EARNINGS PER SHARE
4.
EARNINGS PER SHARE
The following table presents the calculation of basic and diluted earnings per share for our Common and Class B common stock:
                                 
 
Quarter Ended
June 30,
   
Six Months Ended
June 30,
 
 
2019
   
2018
   
2019
   
2018
 
Basic Earnings per Share:
   
     
     
     
 
Net income attributable to Watsco, Inc. shareholders
 
$
90,155
    $
89,957
   
$
125,192
    $
124,176
 
Less: distributed and undistributed earnings allocated to
non-vested
restricted common stock
    
7,512
     
7,379
     
10,355
     
10,147
 
                                 
Earnings allocated to Watsco, Inc. shareholders
 
$
82,643
    $
82,578
   
$
114,837
    $
114,029
 
                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding - Basic
   
34,435,099
     
34,309,885
     
34,411,738
     
34,282,261
 
Basic earnings per share for Common and Class B common stock
 
$
2.40
    $
2.41
   
$
3.34
    $
3.33
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allocation of earnings for Basic:
   
     
     
     
 
Common stock
 
$
76,456
    $
76,321
   
$
106,234
    $
105,383
 
Class B common stock
   
6,187
     
6,257
     
8,603
     
8,646
 
                                 
 
$
82,643
    $
82,578
   
$
114,837
    $
114,029
 
                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted Earnings per Share:
   
     
     
     
 
Net income attributable to Watsco, Inc. shareholders
 
$
90,155
    $
89,957
   
$
125,192
    $
124,176
 
Less: distributed and undistributed earnings allocated to
non-vested
restricted common stock
    
7,511
     
7,374
     
10,354
     
10,144
 
                                 
Earnings allocated to Watsco, Inc. shareholders
 
$
82,644
    $
82,583
   
$
114,838
    $
114,032
 
                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding - Basic
   
34,435,099
     
34,309,885
     
34,411,738
     
34,282,261
 
Effect of dilutive stock options
   
27,861
     
69,310
     
21,210
     
67,554
 
                                 
Weighted-average common shares outstanding - Diluted
   
34,462,960
     
34,379,195
     
34,432,948
     
34,349,815
 
                                 
Diluted earnings per share for Common and Class B common stock
 
$
2.40
    $
2.40
   
$
3.34
    $
3.32
 
Anti-dilutive stock options not included above
   
174,457
     
40,797
     
213,270
     
24,044
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2019 and 2018, our outstanding Class B common stock was convertible into 2,577,858