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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2024
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
September 30,		      Nine Months Ended
September 30,		  
     2024      2023      2024      2023  
Basic Earnings per Share:
            
Net income attributable to Watsco, Inc. shareholders
   
$
171,031
 
    $ 170,953     
$
439,445
 
    $ 453,790  
Less: distributed and undistributed earnings allocated to restricted common stock
   
 
11,899
 
      11,921     
 
30,708
 
      31,248  
  
 
 
     
 
 
     
 
 
     
 
 
  
Earnings allocated to Watsco, Inc. shareholders
   
$
159,132
 
    $ 159,032     
$
408,737
 
    $ 422,542  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted-average common shares outstanding - Basic
   
 
37,552,000
 
      36,446,825     
 
37,314,089
 
      36,315,680  
Basic earnings per share for Common and Class B common stock
   
$
4.24
 
    $ 4.36     
$
10.95
 
    $ 11.64  
Allocation of earnings for Basic:
            
Common stock
   
$
145,413
 
    $ 144,942     
$
373,273
 
    $ 384,970  
Class B common stock
   
 
13,719
 
      14,090     
 
35,464
 
      37,572  
  
 
 
     
 
 
     
 
 
     
 
 
  
  
$
159,132
 
    $ 159,032     
$
408,737
 
    $ 422,542  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted Earnings per Share:
            
Net income attributable to Watsco, Inc. shareholders
   
$
171,031
 
    $ 170,953     
$
439,445
 
    $ 453,790  
Less: distributed and undistributed earnings allocated to restricted common stock
   
 
11,886
 
      11,903     
 
30,682
 
      31,211  
  
 
 
     
 
 
     
 
 
     
 
 
  
Earnings allocated to Watsco, Inc. shareholders
   
$
159,145
 
    $ 159,050     
$
408,763
 
    $ 422,579  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted-average common shares outstanding - Basic
   
 
37,552,000
 
      36,446,825     
 
37,314,089
 
      36,315,680  
Effect of dilutive stock options
   
 
119,752
 
      132,583     
 
119,761
 
      122,395  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted-average common shares outstanding - Diluted
   
 
37,671,752
 
      36,579,408     
 
37,433,850
 
      36,438,075  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted earnings per share for Common and Class B common stock
   
$
4.22
 
    $ 4.35     
$
10.92
 
    $ 11.60  
Anti-dilutive stock options not included above
   
 
16,519
 
      24,988     
 
28,274
 
      37,533  
Diluted earnings per share for our Common stock assumes the conversion of all 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 September 30, 2024 and 2023, our outstanding
Class 
B common stock was convertible into 3,237,527 and 3,229,118 shares of our Common stock, respectively.