(In thousands, except share and per share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2020

2019

2020

2019

Numerator:

Net income attributable to BOK Financial Corp. shareholders

$

154,034

$

142,231

$

280,806

$

390,406

Less: Earnings allocated to participating securities

938

875

1,678

2,553

Numerator for basic earnings per share – income available to common shareholders

153,096

141,356

279,128

387,853

Effect of reallocating undistributed earnings of participating securities

—

1

—

1

Numerator for diluted earnings per share – income available to common shareholders

$

153,096

$

141,357

$

279,128

$

387,854

Denominator:

Weighted average shares outstanding

70,306,233

71,033,405

70,375,628

71,425,855

Less: Participating securities included in weighted average shares outstanding

428,367

437,098

416,684

472,311

Denominator for basic earnings per common share

69,877,866

70,596,307

69,958,944

70,953,544

Dilutive effect of employee stock compensation plans1

1,424

13,617

3,109

15,301

Denominator for diluted earnings per common share

69,879,290

70,609,924

69,962,053

70,968,845

Basic earnings per share

$

2.19

$

2.00

$

3.99

$

5.47

Diluted earnings per share

$

2.19

$

2.00

$

3.99

$

5.47

1 Excludes employee stock options with exercise prices greater than current market price.

19,227

—