XML 30 R20.htm IDEA: XBRL DOCUMENT

Note 13 - Earnings Per Share

9 Months Ended

Sep. 30, 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 contingent consideration conditions as of the end of the period. Refer to Note 3, “Redeemable Noncontrolling Interest,” to the condensed consolidated financial statements, 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,*
		*2022*				*2021*				*2022*				*2021*
Numerator
Net income attributable to Generac Holdings Inc.		$	58,270			$	131,570			$	328,487			$	407,599
Redeemable noncontrolling interest redemption value adjustment			(5,225	)			(7,557	)			(30,817	)			(5,687	)
Net income attributable to common shareholders		$	53,045			$	124,013			$	297,670			$	401,912

Denominator
Weighted average shares, basic			63,249,881				62,690,437				63,480,161				62,583,957
Dilutive effect of stock compensation awards (1)			1,006,814				1,517,679				1,139,242				1,562,324
Dilutive effect of contingently issued shares			10,943				-				10,943				-
Diluted shares			64,267,638				64,208,116				64,630,346				64,146,281

Net income attributable to common shareholders per share
Basic		$	0.84			$	1.98			$	4.69			$	6.42
Diluted		$	0.83			$	1.93			$	4.61			$	6.27

(1) Excludes approximately 85,000 and 44,000 stock options and restricted stock awards for the three and nine months ended September 30, 2022, respectively, as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three and nine months ended September 30, 2021.