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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2021
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,		  
     2021      2020      2021      2020  
Basic Earnings per Share:
                                    
Net income attributable to Watsco, Inc. shareholders
   
$
144,102
 
    $ 86,578     
$
199,194
 
    $ 117,080  
Less: distributed and undistributed earnings allocated to
non-vested
restricted common stock
      12,779        7,439        17,618        11,082  
    
 
 
     
 
 
     
 
 
     
 
 
  
Earnings allocated to Watsco, Inc. shareholders
   
$
131,323
 
    $ 79,139     
$
181,576
 
    $ 105,998  
    
 
 
     
 
 
     
 
 
     
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding - Basic
   
 
35,228,061
 
      35,042,958     
 
35,203,925
 
      35,019,003  
Basic earnings per share for Common and Class B common stock
   
$
3.73
 
    $ 2.26     
$
5.16
 
    $ 3.03  
Allocation of earnings for Basic:
                                    
Common stock
   
$
121,745
 
    $ 73,323     
$
168,324
 
    $ 98,202  
Class B common stock
   
 
9,578
 
      5,816        13,252        7,796  
    
 
 
     
 
 
     
 
 
     
 
 
  
    
$
131,323
 
    $ 79,139     
$
181,576
 
    $ 105,998  
    
 
 
     
 
 
     
 
 
     
 
 
  
Diluted Earnings per Share:
                                    
Net income attributable to Watsco, Inc. shareholders
   
$
144,102
 
    $ 86,578     
$
199,194
 
    $ 117,080  
Less: distributed and undistributed earnings allocated to
non-vested
restricted common stock
      12,748        7,439        17,596        11,082  
    
 
 
     
 
 
     
 
 
     
 
 
  
Earnings allocated to Watsco, Inc. shareholders
   
$
131,354
 
    $ 79,139     
$
181,598
 
    $ 105,998  
    
 
 
     
 
 
     
 
 
     
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding - Basic
   
 
35,228,061
 
      35,042,958     
 
35,203,925
 
      35,019,003  
Effect of dilutive stock options
   
 
199,657
 
      21,753        175,121        25,347  
    
 
 
     
 
 
     
 
 
     
 
 
  
Weighted-average common shares outstanding - Diluted
   
 
35,427,718
 
      35,064,711        35,379,046        35,044,350  
    
 
 
     
 
 
     
 
 
     
 
 
  
Diluted earnings per share for Common and Class B common stock
   
$
3.71
 
    $ 2.26     
$
5.13
 
    $ 3.02  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anti-dilutive stock options not included above
      10,907
 
      208,641     
 
7,144
 
      182,122  
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, 2021 and 2020, our outstanding Class B common stock was convertible into 2,569,236 and 2,575,482 shares of our 
Common stock, respectively.