EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2022

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,	2022		2021
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	113,298	$	55,092
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		10,311		6,054

Earnings allocated to Watsco, Inc. shareholders	$	102,987	$	49,038


Weighted-average common shares outstanding – Basic		35,348,977		35,179,521

Basic earnings per share for Common and Class B common stock	$	2.91	$	1.39

Allocation of earnings for Basic:
Common stock	$	95,521	$	45,452
Class B common stock		7,466		3,586

	$	102,987	$	49,038


Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	113,298	$	55,092
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		10,297		6,054

Earnings allocated to Watsco, Inc. shareholders	$	103,001	$	49,038


Weighted-average common shares outstanding – Basic		35,348,977		35,179,521
Effect of dilutive stock options		155,403		150,312

Weighted-average common shares outstanding – Diluted		35,504,380		35,329,833


Diluted earnings per share for Common and Class B common stock	$	2.90	$	1.39

Anti-dilutive stock options not included above		143,372		5,911

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, 2022 and 2021, our outstanding Class B common stock was convertible into 2,562,448 and 2,572,536 shares of our Common stock, respectively.