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EARNINGS PER SHARE
 9 Months Ended
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
.