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Note 13 - Earnings Per Share

3 Months Ended

Mar. 31, 2023

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 March 31,*
		*2023*				*2022*
Numerator
Net income attributable to Generac Holdings Inc.		$	12,430			$	113,858
Redeemable noncontrolling interest redemption value adjustment			(9,016	)			(11,947	)
Net income attributable to common shareholders		$	3,414			$	101,911

Denominator
Weighted average shares, basic			61,556,044				63,449,380
Dilutive effect of stock compensation awards (1)			738,403				1,279,626
Dilutive effect of contingently issued shares			-				99,813
Diluted shares			62,294,447				64,828,819

Net income attributable to common shareholders per share
Basic		$	0.06			$	1.61
Diluted		$	0.05			$	1.57

(1) Excludes approximately 411,000 and 17,000 stock options and restricted stock awards for the three months ended March 31, 2023 and March 31, 2022, respectively, because they would be anti-dilutive.