Earnings Per Share

6 Months Ended

Jun. 30, 2015

Unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Company’s nonvested restricted stock that was granted prior to March 2015 is considered a participating security since the share-based awards contain a non-forfeitable right to dividends irrespective of whether the awards ultimately vest.



(in thousands, except per common share data)	Three months ended June 30,				Six months ended June 30,
(in thousands, except per common share data)	2015		2014		2015		2014
Net income attributable to The Andersons, Inc.	$	31,092	$	44,301	$	35,189	$	67,009
Less: Distributed and undistributed earnings allocated to nonvested restricted stock	52		254		66		346
Earnings available to common shareholders	$	31,040	$	44,047	$	35,123	$	66,663
Earnings per share – basic:
Weighted average shares outstanding – basic	28,375		28,251		28,558		28,203
Earnings per common share – basic	$	1.09	$	1.56	$	1.23	$	2.36
Earnings per share – diluted:
Weighted average shares outstanding – basic	28,375		28,251		28,558		28,203
Effect of dilutive awards	13		30		51		49
Weighted average shares outstanding – diluted	28,388		28,281		28,609		28,252
Earnings per common share – diluted	$	1.09	$	1.56	$	1.23	$	2.36

There were no antidilutive stock-based awards outstanding at June 30, 2015 or 2014.