Earnings Per Share
The following table details the computation of basic and diluted earnings per share: | | | | | | | | | | Three months ended March 31, | | 2019 | | 2018 | Numerator: | | | | Net income attributable to Providence | $ | 582 |
| | $ | 5,430 |
| Less dividends on convertible preferred stock | (1,087 | ) | | (1,089 | ) | Less income allocated to participating securities | (30 | ) | | (844 | ) | Net income (loss) available to common stockholders | $ | (535 | ) | | $ | 3,497 |
| | | | | Continuing operations | $ | 197 |
| | $ | 5,490 |
| Discontinued operations | (732 | ) | | (1,993 | ) | Net (loss) income available to common stockholders | $ | (535 | ) | | $ | 3,497 |
| | | | | Denominator: | | | | Denominator for basic earnings per share -- weighted-average shares | 12,899,714 |
| | 13,105,965 |
| Effect of dilutive securities: | | | | Common stock options | 53,614 |
| | 88,791 |
| Performance-based restricted stock units | — |
| | 4,684 |
| Denominator for diluted earnings per share -- adjusted weighted-average shares assumed conversion | 12,953,328 |
| | 13,199,440 |
| | | | | Basic earnings (loss) per share: | | | | Continuing operations | $ | 0.02 |
| | $ | 0.42 |
| Discontinued operations | (0.06 | ) | | (0.15 | ) | Basic earnings (loss) per share | $ | (0.04 | ) | | $ | 0.27 |
| Diluted earnings (loss) per share: | | | | Continuing operations | $ | 0.02 |
| | $ | 0.42 |
| Discontinued operations | (0.06 | ) | | (0.15 | ) | Diluted earnings (loss) per share | $ | (0.04 | ) | | $ | 0.27 |
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Income allocated to participating securities is calculated by allocating a portion of net income attributable to Providence, less dividends on convertible stock, to the convertible preferred stockholders on a pro-rata, as converted basis; however, the convertible preferred stockholders are not allocated losses.
The following weighted average shares were not included in the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive: | | | | | | | | Three months ended March 31, | | 2019 | | 2018 | Stock options to purchase common stock | 559,829 |
| | 12,142 |
| Convertible preferred stock | 801,606 |
| | 803,200 |
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