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Note 14 - Earnings Per Share
 9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

14. Earnings Per Share

 

Basic earnings per share is calculated by dividing net income attributable to the common shareholders of the Company by the weighted average number of common shares outstanding during the period, exclusive of restricted shares. Except where the result would be anti-dilutive, diluted earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of stock options. Refer to Note 3 to the condensed consolidated financial statements, “Redeemable Noncontrolling Interest” for further information regarding the accounting for redeemable noncontrolling interests.

 

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2020

  

2019

  

2020

  

2019

 

Numerator

                

Net income attributable to Generac Holdings Inc.

 $114,970  $75,574  $225,575  $182,393 

Redeemable noncontrolling interest redemption value adjustment

  811   (1,485)  (2,281)  191 

Net income attributable to common shareholders

 $115,781  $74,089  $223,294  $182,584 
                 

Denominator

                

Weighted average shares, basic

  62,353,473   61,973,447   62,244,872   61,878,500 

Dilutive effect of stock compensation awards (1)

  1,407,907   797,145   1,301,260   640,705 

Diluted shares

  63,761,380   62,770,592   63,546,132   62,519,205 
                 

Net income attributable to common shareholders per share

                

Basic

 $1.86  $1.20  $3.59  $2.95 

Diluted

 $1.82  $1.18  $3.51  $2.92 

 

(1) There were no awards with an anti-dilutive impact for the three and nine months ended September 30, 2020 and September 30, 2019.