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Note S - Earnings Per Share | 12 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Earnings Per Share [Text Block] | S . EARNINGS PER SHARE The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Restricted stock award recipients under the 2010 LTI Plan have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the two -class method. The components of basic and diluted earnings per share were as follows:
|  | 2019 |  |  | 2018 |
Basic: |  |  |  |  |  |  |  |
Net income |  | $ | 10,796 |  |  | $ | 9,647 |
Less: Net earnings attributable to noncontrolling interest |  |  | (123 | ) |  |  | (119 | )
Less: Undistributed earnings attributable to unvested shares |  |  | (148 | ) |  |  | (222 | )
Net income available to Twin Disc shareholders |  |  | 10,525 |  |  |  | 9,306 |
Weighted average shares outstanding - basic |  |  | 12,571 |  |  |  | 11,295 |
Basic Income Per Share: |  |  |  |  |  |  |  |
Net income per share - basic |  | $ | 0.84 |  |  | $ | 0.82 |
Diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 10,796 |  |  | $ | 9,647 |
Less: Net earnings attributable to noncontrolling interest |  |  | (123 | ) |  |  | (119 | )
Less: Undistributed earnings attributable to unvested shares |  |  | (148 | ) |  |  | (222 | )
Net income available to Twin Disc shareholders |  |  | 10,525 |  |  |  | 9,306 |
Weighted average shares outstanding - basic |  |  | 12,571 |  |  |  | 11,295 |
Effect of dilutive stock awards |  |  | 111 |  |  |  | 100 |
Weighted average shares outstanding - diluted |  |  | 12,682 |  |  |  | 11,395 |
Diluted Income Per Share: |  |  |  |  |  |  |  |
Net income per share - diluted |  | $ | 0.83 |  |  | $ | 0.82 |
The following potential common shares were excluded from diluted EPS for the year ended June 30, 2019 because they were anti-dilutive: 80,164 related to the Company’s unvested PSAs, 172,637 related to the Company’s unvested RS awards, 13,123 related to the Company’s unvested RSUs, and 3,483 related to outstanding stock options. The following potential common shares were excluded from diluted EPS for the year ended June 30, 2018 because they were anti-dilutive: 61,286 related to the Company’s unvested PSAs, 237,657 related to the Company’s unvested RS awards, and 3,568 related to outstanding stock options.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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