EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Basic and Diluted Earnings Per Common Share

The following table presents the calculation of basic and diluted earnings per common share for our Common and Class B common stock:

	Quarter Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	41,005	$	33,547	$	88,575	$	77,070
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		2,822		2,295		6,119		5,105
Earnings allocated to Watsco, Inc. shareholders	$	38,183	$	31,252	$	82,456	$	71,965
Weighted-average Common and Class B common shares outstanding for basic earnings per share		32,107,701		30,694,844		31,529,296		30,660,843
Basic earnings per share for Common and Class B common stock	$	1.19	$	1.02	$	2.62	$	2.35
Allocation of earnings for Basic:
Common stock	$	34,789	$	28,347	$	74,992	$	65,268
Class B common stock		3,394		2,905		7,464		6,697
	$	38,183	$	31,252	$	82,456	$	71,965
Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	41,005	$	33,547	$	88,575	$	77,070
Less: distributed and undistributed earnings allocated to non-vested (restricted) common stock		2,820		2,293		6,115		5,101
Earnings allocated to Watsco, Inc. shareholders	$	38,185	$	31,254	$	82,460	$	71,969
Weighted-average Common and Class B common shares outstanding for basic earnings per share		32,107,701		30,694,844		31,529,296		30,660,843
Effect of dilutive stock options		60,465		63,688		68,242		80,452
Weighted-average Common and Class B common shares outstanding for diluted earnings per share		32,168,166		30,758,532		31,597,538		30,741,295
Diluted earnings per share for Common and Class B common stock	$	1.19	$	1.02	$	2.61	$	2.34
Anti-dilutive stock options not included in above		2,283		132,750		11,445		22,322