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Basic and Diluted Net Income per Share
 6 Months Ended
Jun. 30, 2023
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):

 

   2023   2022   2023   2022 
   Three months ended June 30,   Six months ended June 30, 
   2023   2022   2023   2022 
Basic:                    
Weighted average shares outstanding   5,670    6,013    5,693    6,053 
                     
Diluted:                    
Weighted average shares outstanding   5,670    6,013    5,693    6,053 
Weighted average effects of dilutive securities   65    83    67    83 
Total   5,735    6,096    5,760    6,136 
                     
Antidilutive securities:   17    17    17    17 

 

 

Where Food Comes From, Inc.

Notes to the Consolidated Financial Statements

(Unaudited)

 

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.