XML 25 R13.htm IDEA: XBRL DOCUMENT v3.21.2
Earnings Per Share
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

6) Earnings Per Share

 

The basic and diluted earnings per share amounts were calculated as follows:

 

                 
   Three Months Ended September 30   Nine Months Ended September 30 
   2021   2020   2021   2020 
Numerator:                
Net earnings  $10,790,730   $29,304,769   $34,176,924   $51,286,265 
Denominator:                    
Basic weighted-average shares outstanding   20,160,912    19,830,879    20,117,257    19,717,877 
Effect of dilutive securities:                    
Employee stock options   819,969    587,720    810,438    424,206 
                     
Diluted weighted-average shares outstanding   20,980,881    20,418,599    20,927,695    20,142,083 
                     
Basic net earnings per share  $0.54   $1.48   $1.70   $2.60 
                     
Diluted net earnings per share  $0.51   $1.44   $1.63   $2.55 

 

Net earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. For the nine months September 30, 2021 and 2020, there were -0- and -0- of anti-dilutive employee stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive. Basic and diluted earnings per share amounts are the same for each class of common stock.

 

The following table summarizes the activity in shares of capital stock for the periods presented:

 

   Class A   Class C 
Outstanding shares at December 31, 2019   16,107,779    2,500,887 
           
Exercise of stock options   33,774    — 
Stock dividends   405,210    61,720 
Conversion of Class C to Class A   13,224    (13,224)
           
Outstanding shares at September 30, 2020   16,559,987    2,549,383 
           
Outstanding shares at December 31, 2020   16,595,783    2,679,603 
           
Exercise of stock options   111,608    — 
Stock dividends   837,410    131,553 
Conversion of Class C to Class A   49,247    (49,247)
           
Outstanding shares at September 30, 2021   17,594,048    2,761,909 

  

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

September 30, 2021 (Unaudited)