EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2025

3.	EARNINGS PER SHARE

The following table presents the calculation of basic and diluted earnings per share for our common stock:


Quarters Ended March 31,	2025		2024
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	80,061	$	87,004
Less: distributed and undistributed earnings allocated to restricted common stock		7,172		6,836

Earnings allocated to Watsco, Inc. shareholders	$	72,889	$	80,168

Weighted-average common shares outstanding – Basic		37,752,203		36,875,549
Basic earnings per share for common stock	$	1.93	$	2.17
Allocation of earnings for Basic:
Common stock	$	66,469	$	73,166
Class B common stock		6,420		7,002

	$	72,889	$	80,168

Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	80,061	$	87,004
Less: distributed and undistributed earnings allocated to restricted common stock		7,172		6,836

Earnings allocated to Watsco, Inc. shareholders	$	72,889	$	80,168

Weighted-average common shares outstanding – Basic		37,752,203		36,875,549
Effect of dilutive stock options		101,052		123,999

Weighted-average common shares outstanding – Diluted		37,853,255		36,999,548


Quarters Ended March 31,	2025		2024
Diluted earnings per share for common stock	$	1.93	$	2.17
Anti-dilutive stock options not included above		21,807		46,456

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 March 31, 2025 and 2024, our outstanding Class

common stock was convertible into 3,325,027 and 3,220,567 shares of our Common stock, respectively.