Note 10 - Earnings Per Share |
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Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Text Block] |
In the first three months ended March 31, 2019, FutureFuel used the treasury method in computing earnings per share as all shares with participating security holders had vested. During 2018, FutureFuel had unvested participating shares and computed earnings per share using the two -class method in accordance with ASC Topic No. 260, “Earnings per Share .” The two -class method is an allocation of earnings between the holders of common stock and a company’s participating security holders. Outstanding unvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two -class method. There were no other participating securities at March 31, 2019 or 2018. Contingently issuable shares associated with outstanding service-based restricted stock units were not included in the earnings per share calculations for the three -month period ended March 31, 2018 as the vesting conditions had not been satisfied. There were no outstanding service-based restricted stock units for the three months ended March 31, 2019. Basic and diluted earnings per common share were computed as follows:
Certain options to purchase FutureFuel’s common stock were not included in the computation of diluted earnings per share for the three months ended March 31, 2018 because they were anti-dilutive in the period. The weighted average number of options excluded on this basis was 30,000 for the three -months ended March 31, 2018. For the three months ended March 31, 2019, no options were excluded on a weighted average basis. |