Per Share Information

12 Months Ended

Sep. 30, 2019

6. PER SHARE INFORMATION

Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. If the effect is dilutive, participating securities are included in the computation of basic earnings per share. Our participating securities do not have a contractual obligation to share in the losses in any given period. As a result, these participating securities will not be allocated any losses in the periods of net losses, but will be allocated income in the periods of net income using the two-class method.

The following table reconciles the components of the basic and diluted earnings (loss) per share for the years ended September 30, 2019, 2018 and 2017:



	Year Ended September 30,
	2019		2018			2017
Numerator:
Net income (loss) attributable to common shareholders of IES Holdings, Inc.	$	32,950	$	(14,113	)	$	13,275
Increase (decrease) in noncontrolling interest	—		(44		)	44
Net income attributable to restricted shareholders of IES Holdings, Inc.	256		—			103
Net income (loss) attributable to IES Holdings, Inc.	$	33,206	$	(14,157	)	$	13,422

Denominator:
Weighted average common shares outstanding — basic	21,082,012		21,196,388			21,280,549
Effect of dilutive stock options and non-vested securities	233,233		—			252,705
Weighted average common and common equivalent shares outstanding — diluted	21,315,245		21,196,388			21,533,254

Earnings (loss) per share attributable to IES Holdings, Inc.:
Basic	$	1.56	$	(0.67	)	$	0.62
Diluted	$	1.55	$	(0.67	)	$	0.62

For the years ended September 30, 2019 and September 30, 2017, the average price of our common shares exceeded the exercise price of outstanding options; therefore, outstanding stock options were included in the computation of fully diluted earnings per share.

When an entity has a net loss, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, we have utilized basic shares outstanding to calculate both basic and diluted loss per share for the year ended September 30, 2018. The number of potential anti-dilutive shares excluded from the calculation was 301,879 shares for the year ended September 30, 2018.