Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share

Earnings Per Share

Note 4. Earnings Per Share

Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, restricted stock, and performance awards, and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents as of or for the three and nine-month periods ended September 30, 2019 and 2018.

	Three Months Ended September 30,
	2019						2018
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	151,048		217,873	$	0.69	$	398,375		234,208	$	1.70
Dilutive common share equivalents		-		1,236				-		1,441
Diluted earnings per share	$	151,048		219,109	$	0.69	$	398,375		235,649	$	1.69

Note 4. Earnings Per Share (Continued)

	Nine Months Ended September 30,
	2019						2018
			Weighted						Weighted
			Average						Average
	Net Income		Shares		Per Share		Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount		(Numerator)		(Denominator)		Amount
Basic earnings per share	$	549,678		221,145	$	2.49	$	988,375		235,483	$	4.20
Dilutive common share equivalents		-		1,052				-		1,289
Diluted earnings per share	$	549,678		222,197	$	2.47	$	988,375		236,772	$	4.17