EARNINGS PER SHARE

6 Months Ended

Jun. 30, 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:


	Quarter Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	192,557	$	144,102	$	305,855	$	199,194
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		17,600		12,779		27,902		17,618

Earnings allocated to Watsco, Inc. shareholders	$	174,957	$	131,323	$	277,953	$	181,576


Weighted-average common shares outstanding - Basic		35,403,171		35,228,061		35,376,223		35,203,925
Basic earnings per share for Common and Class B common stock	$	4.94	$	3.73	$	7.86	$	5.16
Allocation of earnings for Basic:
Common stock	$	162,229	$	121,745	$	257,716	$	168,324
Class B common stock		12,728		9,578		20,237		13,252

	$	174,957	$	131,323	$	277,953	$	181,576

Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	192,557	$	144,102	$	305,855	$	199,194
Less: distributed and undistributed earnings allocated to non-vested restricted common stock		17,570		12,748		27,856		17,596

Earnings allocated to Watsco, Inc. shareholders	$	174,987	$	131,354	$	277,999	$	181,598


Weighted-average common shares outstanding - Basic		35,403,171		35,228,061		35,376,223		35,203,925
Effect of dilutive stock options		117,992		199,657		136,595		175,121

Weighted-average common shares outstanding - Diluted		35,521,163		35,427,718		35,512,818		35,379,046

Diluted earnings per share for Common and Class B common stock	$	4.93	$	3.71	$	7.83	$	5.13

Anti-dilutive stock options not included above		185,872		10,907		167,441		7,144

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, 2022 and 2021, our outstanding Class B common stock was convertible into 2,575,604 and 2,569,236 shares of our Common stock, respectively.