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Note 14 - Earnings Per Share
 12 Months Ended
Dec. 31, 2022
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, as well as the satisfaction of certain contingent acquisition consideration conditions as of the end of the period. Refer to Note 4, “Redeemable Noncontrolling Interest,” to the 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:

 

  

Year Ended December 31,

 
  

2022

  

2021

  

2020

 

Numerator

            

Net income attributable to Generac Holdings Inc.

 $399,502  $550,494  $350,576 

Redeemable noncontrolling interest redemption value adjustment

  (49,235)  (17,102)  (1,247)

Net income attributable to common shareholders

 $350,267  $533,392  $349,329 
             

Denominator

            

Weighted average shares, basic

  63,117,007   62,686,001   62,280,889 

Dilutive effect of stock compensation awards (1)

  1,087,219   1,534,603   1,456,845 

Dilutive effect of contingently issued shares

  477,131   32,804   - 

Diluted shares

  64,681,357   64,253,408   63,737,734 
             

Net income attributable to common shareholders per share

            

Basic

 $5.55  $8.51  $5.61 

Diluted

 $5.42  $8.30  $5.48 

 

 

(1)

For the year ended December 31, 2022, excludes approximately 76,000 stock options and restricted stock awards as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the years ended December 31, 2021 and 2020.