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Note 13 - Earnings Per Share
 3 Months Ended
Mar. 31, 2022
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 as well as the satisfaction of certain conditions as of the end of the period. 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 March 31,

 
  

2022

  

2021

 

Numerator

        

Net income attributable to Generac Holdings Inc.

 $113,858  $148,993 

Redeemable noncontrolling interest redemption value adjustment

  (11,947)  123 

Net income attributable to common shareholders

 $101,911  $149,116 
         

Denominator

        

Weighted average shares, basic

  63,449,380   62,478,734 

Dilutive effect of stock compensation awards (1)

  1,279,626   1,620,339 

Dilutive effect of contingently issued shares

  99,813   - 

Diluted shares

  64,828,819   64,099,073 
         

Net income attributable to common shareholders per share

        

Basic

 $1.61  $2.39 

Diluted

 $1.57  $2.33 

 

(1) Excludes approximately 17,000 stock options and restricted stock awards for the three months ended March 31, 2022 as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three months ended March 31, 2021.