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Note 9 - Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 9 – Earnings per Share

 

Basic net income per share is computed based on the weighted average number of common shares outstanding for each period presented. Diluted net income per share reflects the potential dilution that would have occurred if securities to issue common stock were exercised, converted, or resulted in the issuance of common stock that would have then shared in our earnings.

 

The following table summarizes the earnings and the weighted average number of common shares used in the calculation of basic and diluted earnings per share (in thousands, except for share and per share amounts):

 

  

Three Months Ended
September 30

  

Nine Months Ended
September 30

 
  

2024

  

2023

  

2024

  

2023

 

Basic:

                

Weighted average common shares outstanding

  15,411,680   15,299,913   15,384,758   15,311,453 

Net income attributable to National HealthCare Corporation

 $42,789  $10,388  $95,846  $38,392 

Earnings per common share, basic

 $2.78  $0.68  $6.23  $2.51 
                 

Diluted:

                

Weighted average common shares outstanding

  15,411,680   15,299,913   15,384,758   15,311,453 

Effects of dilutive instruments

  255,641   24,598   191,536   22,816 

Weighted average common shares outstanding

  15,667,321   15,324,511   15,576,294   15,334,269 
                 

Net income attributable to National HealthCare Corporation

 $42,789  $10,388  $95,846  $38,392 

Earnings per common share, diluted

 $2.73  $0.68  $6.15  $2.50 

 

For the three and nine months ending September 30, 2024, we did not exclude any stock options from the calculation of diluted weighted average shares of common stock outstanding. For the three and nine months ending September 30, 2023, 637,409 of stock options have been excluded from the calculation of diluted weighted average shares of common stock outstanding because the inclusion of these securities would have an anti-dilutive effect.