EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2019

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 15 – EARNINGS PER SHARE

Basic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018 is as follows:

	Three Months Ended
	September 30, 2019				September 30, 2018
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	56,750	$	56,750	$	38,996	$	38,996
Average equivalent shares
Shares of common stock		64,010		64,010		62,378		62,378
Effect of dilutive stock-based compensation
Stock options		2,367		—		2,659		—
Restricted stock		325		—		92		—
Total average equivalent shares		66,702		64,010		65,129		62,378
Net income per share	$	0.85	$	0.89	$	0.60	$	0.63

	Nine Months Ended
	September 30, 2019				September 30, 2018
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	193,669	$	193,669	$	154,071	$	154,071
Average equivalent shares
Shares of common stock		63,485		63,485		62,304		62,304
Effect of dilutive stock-based compensation
Stock options		2,425		—		2,440		—
Restricted stock		253		—		78		—
Total average equivalent shares		66,163		63,485		64,822		62,304
Net income per share	$	2.93	$	3.05	$	2.38	$	2.47