Earnings Per Share

3 Months Ended

Mar. 31, 2017

Note 3. Earnings Per Share

Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights. Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 9, "Capital Stock".

Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method.

A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock:



(dollars in thousands, except per share data)	Three months ended March 31,
	2017					2016
	Allocated net income (numerator)		Weighted shares (denominator)	Per-share amount		Allocated net income (numerator)		Weighted shares (denominator)	Per-share amount
Class A – Basic EPS:
Income available to Class A stockholders	$	47,484	46,188,522	$	1.03	$	45,520	46,189,068	$	0.99
Dilutive effect of stock-based awards	0		119,238	—		0		234,059	—
Assumed conversion of Class B shares	392		6,100,800	—		375		6,100,800	—
Class A – Diluted EPS:
Income available to Class A stockholders on Class A equivalent shares	$	47,876	52,408,560	$	0.91	$	45,895	52,523,927	$	0.87
Class B – Basic and diluted EPS:
Income available to Class B stockholders	$	392	2,542	$	154	$	375	2,542	$	148