| Earnings per Share ("EPS") |
Note 6. Earnings per Share (“EPS”)
Class A and Class B shares participate equally in
undistributed earnings. Under the Company’s Articles of
Organization, the holders of Class A Common Stock are entitled
to receive dividends per share equal to at least 200% of dividends
paid, if any, from time to time, on each share of Class B
Common Stock.
Diluted EPS includes the dilutive effect of common stock
equivalents; basic EPS excludes all common stock equivalents. The
Company had no common stock equivalents outstanding for the periods
ended June 30, 2017 and 2016.
The following table is a reconciliation of basic EPS and diluted
EPS.
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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data) |
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2017 |
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2016 |
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2017 |
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2016 |
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Basic EPS Computation:
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Numerator:
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Net income, Class A
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$ |
6,410 |
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$ |
4,902 |
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$ |
11,198 |
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$ |
9,071 |
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Net income, Class B
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1,747 |
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1,339 |
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3,055 |
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2,478 |
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Denominator:
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Weighted average shares outstanding, Class A
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3,603,729 |
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3,600,729 |
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3,602,229 |
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3,600,729 |
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Weighted average shares outstanding, Class B
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1,964,180 |
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1,967,180 |
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1,965,680 |
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1,967,180 |
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Basic EPS, Class A
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$ |
1.78 |
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$ |
1.36 |
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$ |
3.11 |
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$ |
2.52 |
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Basic EPS, Class B
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0.89 |
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0.68 |
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1.55 |
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1.26 |
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Diluted EPS Computation:
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Numerator:
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Net income, Class A
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$ |
6,410 |
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$ |
4,902 |
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$ |
11,198 |
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$ |
9,071 |
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Net income, Class B
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1,747 |
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1,339 |
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3,055 |
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2,478 |
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Total net income, for diluted EPS, Class A computation
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8,157 |
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6,241 |
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14,253 |
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11,549 |
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Denominator:
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Weighted average shares outstanding, basic, Class A
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3,603,729 |
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3,600,729 |
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3,602,229 |
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3,600,729 |
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Weighted average shares outstanding, Class B
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1,964,180 |
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1,967,180 |
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1,965,680 |
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1,967,180 |
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Weighted average shares outstanding diluted, Class A
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5,567,909 |
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5,567,909 |
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5,567,909 |
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5,567,909 |
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Weighted average shares outstanding, Class B
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1,964,180 |
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1,967,180 |
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1,965,680 |
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1,967,180 |
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Diluted EPS, Class A
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$ |
1.47 |
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$ |
1.12 |
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$ |
2.56 |
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$ |
2.07 |
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Diluted EPS, Class B
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0.89 |
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0.68 |
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1.55 |
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1.26 |
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