Per Share Information

12 Months Ended

Sep. 30, 2023

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 per share for the years ended September 30, 2023, 2022 and 2021:


	Year Ended September 30,
	2023		2022		2021
Numerator:
Net income attributable to IES Holdings, Inc.	$	108,288	$	34,762	$	66,658
Increase in noncontrolling interest	(15,701)		(4,695)		(315)
Net income attributable to restricted shareholders of IES Holdings, Inc.	(11)		(21)		(56)
Net income attributable to common shareholders of IES Holdings, Inc.	$	92,576	$	30,046	$	66,287

Denominator:
Weighted average common shares outstanding — basic	20,196,850		20,667,745		20,790,307
Effect of dilutive stock options and non-vested securities	216,182		226,880		296,125
Weighted average common and common equivalent shares outstanding — diluted	20,413,032		20,894,625		21,086,432

Earnings per share attributable to common shareholders of IES Holdings, Inc.:
Basic	$	4.58	$	1.45	$	3.19
Diluted	$	4.54	$	1.44	$	3.15

For the years ended September 30, 2023, 2022 and 2021, the average price of our common stock exceeded the exercise price of outstanding stock options; therefore, all of our outstanding stock options were included in the computation of diluted earnings per share. For the years ended September 30, 2023, 2022 and 2021, there were no other unvested performance awards excluded from the calculation of diluted earnings per share because the inclusion of such instruments would have been anti-dilutive.