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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2020
EARNINGS PER SHARE
3
.
EARNINGS PER SHARE
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,
 
2020
 
  
2019
 
Basic Earnings per Share:
 
 
 
  
 
 
Net income attributable to Watsco, Inc. shareholders
 
$
30,502
 
   $
35,037
 
Less: distributed and undistributed earnings allocated to
non-vested
restricted common stock
  
 
5,233
 
    
4,924
 
                 
Earnings allocated to Watsco, Inc. shareholders
 
$
25,269
 
   $
30,113
 
                 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding – Basic
 
 
34,995,048
 
    
34,388,117
 
 
 
 
 
 
 
 
 
 
Basic earnings per share for Common and Class B common stock
 
$
0.72
 
   $
0.88
 
Allocation of earnings for Basic:
   
     
 
Common stock
 
$
23,409
 
   $
27,856
 
Class B common stock
 
 
1,860
 
    
2,257
 
                 
 
$
25,269
 
   $
30,113
  
                 
Diluted Earnings per Share:
 
 
 
  
 
 
Net income attributable to Watsco, Inc. shareholders
 
$
30,502
 
   $
35,037
 
Less: distributed and undistributed earnings allocated to
non-vested
restricted common stock
  
 
5,233
 
    
4,924
 
                 
Earnings allocated to Watsco, Inc. shareholders
 
$
25,269
 
   $
30,113
 
                 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding – Basic
 
 
34,995,048
 
    
34,388,117
 
Effect of dilutive stock options
 
 
28,941
 
    
14,485
 
                 
Weighted-average common shares outstanding – Diluted
 
 
35,023,989
 
    
34,402,602
 
                 
 
 
 
 
 
 
 
 
 
Diluted earnings per share for Common and Class B common stock
 
$
0.72
 
   $
0.88
 
 
 
 
 
 
 
 
 
 
Anti-dilutive stock options not included above
 
 
164,130
 
    
322,584
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 March 31, 2020 and 2019, our outstanding Class B common stock was convertible into 2,575,740 and 2,577,875 shares of our Common stock, respectively.