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EARNINGS PER SHARE | 9 Months Ended
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Sep. 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Basic Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Watsco, Inc. shareholders |  | $ | 83,480 |  |  | $ | 79,163 |  |  | $ | 208,672 |  |  | $ | 203,339 |
Less: distributed and undistributed earnings allocated to non-vested restricted common stock |  |  | 6,973 |  |  |  | 6,451 |  |  |  | 17,326 |  |  |  | 16,600 |
Earnings allocated to Watsco, Inc. shareholders |  | $ | 76,507 |  |  | $ | 72,712 |  |  | $ | 191,346 |  |  | $ | 186,739 |
Weighted-average common shares outstanding - Basic |  |  | 34,755,627 |  |  |  | 34,339,859 |  |  |  | 34,544,425 |  |  |  | 34,301,672 |
Basic earnings per share for Common and Class B common stock |  | $ | 2.20 |  |  | $ | 2.12 |  |  | $ | 5.54 |  |  | $ | 5.44 |
Allocation of earnings for Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 70,836 |  |  | $ | 67,201 |  |  | $ | 177,075 |  |  | $ | 172,571 |
Class B common stock |  |  | 5,671 |  |  |  | 5,511 |  |  |  | 14,271 |  |  |  | 14,168 |
|  | $ | 76,507 |  |  | $ | 72,712 |  |  | $ | 191,346 |  |  | $ | 186,739 |
Diluted Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Watsco, Inc. shareholders |  | $ | 83,480 |  |  | $ | 79,163 |  |  | $ | 208,672 |  |  | $ | 203,339 |
Less: distributed and undistributed earnings allocated to non-vested restricted common stock |  |  | 6,971 |  |  |  | 6,448 |  |  |  | 17,325 |  |  |  | 16,593 |
Earnings allocated to Watsco, Inc. shareholders |  | $ | 76,509 |  |  | $ | 72,715 |  |  | $ | 191,347 |  |  | $ | 186,746 |
Weighted-average common shares outstanding - Basic |  |  | 34,755,627 |  |  |  | 34,339,859 |  |  |  | 34,544,425 |  |  |  | 34,301,672 |
Effect of dilutive stock options |  |  | 33,328 |  |  |  | 59,530 |  |  |  | 25,294 |  |  |  | 64,850 |
Weighted-average common shares outstanding - Diluted |  |  | 34,788,955 |  |  |  | 34,399,389 |  |  |  | 34,569,719 |  |  |  | 34,366,522 |
Diluted earnings per share for Common and Class B common stock |  | $ | 2.20 |  |  | $ | 2.11 |  |  | $ | 5.54 |  |  | $ | 5.43 |
Anti-dilutive stock options not included above |  |  | 183,083 |  |  |  | 79,316 |  |  |  | 220,013 |  |  |  | 39,751 |
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 September 30, 2019 and 2018, our outstanding Class B common stock was convertible into 2,576,336 and 2,602,528 shares of our Common stock, respectively .

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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