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Note 13 - Earnings Per Share
 6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

13. 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 June 30,

  

Six Months Ended June 30,

 
  

2021

  

2020

  

2021

  

2020

 

Numerator

                

Net income attributable to Generac Holdings Inc.

 $127,036  $66,145  $276,029  $110,605 

Redeemable noncontrolling interest redemption value adjustment

  1,747   (1,570)  1,870   (3,092)

Net income attributable to common shareholders

 $128,783  $64,575  $277,899  $107,513 
                 

Denominator

                

Weighted average shares, basic

  62,605,166   62,267,083   62,533,725   62,190,438 

Dilutive effect of stock compensation awards (1)

  1,483,543   1,097,170   1,563,653   1,173,283 

Diluted shares

  64,088,709   63,364,253   64,097,378   63,363,721 
                 

Net income attributable to common shareholders per share

                

Basic

 $2.06  $1.04  $4.44  $1.73 

Diluted

 $2.01  $1.02  $4.34  $1.70 

 

(1) Excludes approximately 49,000 and 15,000 stock options for the three and six months ended June 30, 2020, respectively, as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three and six months ended June 30, 2021.