Earnings Per Share |
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: | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | | 2017 | | 2016 | (dollars in thousands, except per share data) | | 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 | | $ | 58,064 |
| | 46,188,949 |
| | $ | 1.26 |
| | $ | 56,906 |
| | 46,188,980 |
| | $ | 1.23 |
| Dilutive effect of stock-based awards | | 0 |
| | 27,127 |
| | — |
| | 0 |
| | 121,523 |
| | — |
| Assumed conversion of Class B shares | | 479 |
| | 6,100,800 |
| | — |
| | 470 |
| | 6,100,800 |
| | — |
| Class A – Diluted EPS: | | | | | | | | | | | | | Income available to Class A stockholders on Class A equivalent shares | | $ | 58,543 |
| | 52,316,876 |
| | $ | 1.12 |
| | $ | 57,376 |
| | 52,411,303 |
| | $ | 1.09 |
| Class B – Basic EPS: | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 479 |
| | 2,542 |
| | $ | 189 |
| | $ | 470 |
| | 2,542 |
| | $ | 185 |
| Class B – Diluted EPS: | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 479 |
| | 2,542 |
| | $ | 189 |
| | $ | 469 |
| | 2,542 |
| | $ | 185 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, | | | 2017 | | 2016 | (dollars in thousands, except per share data) | | 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 | | $ | 163,596 |
| | 46,186,109 |
| | $ | 3.54 |
| | $ | 163,233 |
| | 46,188,971 |
| | $ | 3.53 |
| Dilutive effect of stock-based awards | | 0 |
| | 55,541 |
| | — |
| | 0 |
| | 152,926 |
| | — |
| Assumed conversion of Class B shares | | 1,350 |
| | 6,100,800 |
| | — |
| | 1,347 |
| | 6,100,800 |
| | — |
| Class A – Diluted EPS: | | |
| | |
| | |
| | |
| | |
| | |
| Income available to Class A stockholders on Class A equivalent shares | | $ | 164,946 |
| | 52,342,450 |
| | $ | 3.15 |
| | $ | 164,580 |
| | 52,442,697 |
| | $ | 3.14 |
| Class B – Basic EPS: | | |
| | |
| | |
| | |
| | |
| | |
| Income available to Class B stockholders | | $ | 1,350 |
| | 2,542 |
| | $ | 531 |
| | $ | 1,347 |
| | 2,542 |
| | $ | 530 |
| Class B – Diluted EPS: | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 1,350 |
| | 2,542 |
| | $ | 531 |
| | $ | 1,346 |
| | 2,542 |
| | $ | 529 |
|
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