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Basic and Diluted Net Income per Share
 6 Months Ended
Jun. 30, 2022
Per share - net income:  
Basic and Diluted Net Income per Share

Note 2 – Basic and Diluted Net Income per Share

 

Basic net income per share was computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and restricted stock awards are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

 

The following is a reconciliation of the share data used in the basic and diluted income per share computations (amounts in thousands):

  

                     
   Three months ended June 30,   Six months ended June 30, 
   2022   2021   2022   2021 
Basic:                    
Weighted average shares outstanding   6,013    6,100    6,053    6,151 
                     
Diluted:                    
Weighted average shares outstanding   6,013    6,100    6,053    6,151 
Weighted average effects of dilutive securities   83    86    83    90 
Total   6,096    6,186    6,136    6,241 
                     
Antidilutive securities:   17    17    17    17 

 

The effect of the inclusion of the antidilutive shares would have resulted in an increase in earnings per share. Accordingly, the weighted average shares outstanding have not been adjusted for antidilutive shares.

 

 

Where Food Comes From, Inc.

Notes to the Consolidated Financial Statements

(Unaudited)