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EARNINGS PER SHARE | 6 Months Ended
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Jun. 30, 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:
|  | Quarter Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Basic Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Watsco, Inc. shareholders |  | $ | 86,578 |  |  | $ | 90,155 |  |  | $ | 117,080 |  |  | $ | 125,192 |
Less: distributed and undistributed earnings allocated to non-vested restricted common stock |  |  | 7,439 |  |  |  | 7,512 |  |  |  | 11,082 |  |  |  | 10,355 |
Earnings allocated to Watsco, Inc. shareholders |  | $ | 79,139 |  |  | $ | 82,643 |  |  | $ | 105,998 |  |  | $ | 114,837 |
Weighted-average common shares outstanding—Basic |  |  | 35,042,958 |  |  |  | 34,435,099 |  |  |  | 35,019,003 |  |  |  | 34,411,738 |
Basic earnings per share for Common and Class B common stock |  | $ | 2.26 |  |  | $ | 2.40 |  |  | $ | 3.03 |  |  | $ | 3.34 |
Allocation of earnings for Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 73,323 |  |  | $ | 76,456 |  |  | $ | 98,202 |  |  | $ | 106,234 |
Class B common stock |  |  | 5,816 |  |  |  | 6,187 |  |  |  | 7,796 |  |  |  | 8,603 |
|  | $ | 79,139 |  |  | $ | 82,643 |  |  | $ | 105,998 |  |  | $ | 114,837 |
Diluted Earnings per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Watsco, Inc. shareholders |  | $ | 86,578 |  |  | $ | 90,155 |  |  | $ | 117,080 |  |  | $ | 125,192 |
Less: distributed and undistributed earnings allocated to non-vested restricted common stock |  |  | 7,439 |  |  |  | 7,511 |  |  |  | 11,082 |  |  |  | 10,354 |
Earnings allocated to Watsco, Inc. shareholders |  | $ | 79,139 |  |  | $ | 82,644 |  |  | $ | 105,998 |  |  | $ | 114,838 |
Weighted-average common shares outstanding—Basic |  |  | 35,042,958 |  |  |  | 34,435,099 |  |  |  | 35,019,003 |  |  |  | 34,411,738 |
Effect of dilutive stock options |  |  | 21,753 |  |  |  | 27,861 |  |  |  | 25,347 |  |  |  | 21,210 |
Weighted-average common shares outstanding—Diluted |  |  | 35,064,711 |  |  |  | 34,462,960 |  |  |  | 35,044,350 |  |  |  | 34,432,948 |
Diluted earnings per share for Common and Class B common stock |  | $ | 2.26 |  |  | $ | 2.40 |  |  | $ | 3.02 |  |  | $ | 3.34 |
Anti-dilutive stock options not included above |  |  | 208,641 |  |  |  | 174,457 |  |  |  | 182,122 |  |  |  | 213,270 |
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, 2020 and 2019, our outstanding Class B common stock was convertible into 2,575,482 and 2,577,858 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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