Note 14 - Earnings Per Common Share

12 Months Ended

Sep. 27, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

14    EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share:

(Thousands of Dollars and Shares, Except Per Common Share Data)	2020			2019			2018
Income attributable to Lee Enterprises, Incorporated:		(3,106	)		14,268			45,766
Weighted average Common Stock		58,105			57,648			57,009
Less non-vested restricted Common Stock		(1,536	)		(2,083	)		(2,307	)
Basic average Common Stock		56,569			55,565			54,702
Dilutive stock options and restricted Common Stock		367			1,319			1,246
Diluted average Common Stock		56,936			56,884			55,948
Earnings per common share:
Basic:		(0.05	)		0.26			0.84
Diluted		(0.05	)		0.25			0.82

For 2020 we had 6,000,000 weighted average shares not considered in the computation of diluted earnings per share because the Company recorded net losses. For 2019 and 2018, we had 6,384,000 and 7,206,000 weighted average shares, respectively, not considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock.