6. EARNINGS PER SHARE

Basic earnings per share available to common shareholders is calculated by dividing net income by the weighted average common shares outstanding for each period. Diluted earnings per share available to common shareholders is calculated by dividing income from operations by the sum of the weighted average common shares outstanding and the weighted average dilutive equity awards.


	For the three months ended March
	2021				2020
	Basic		Diluted		Basic		Diluted
Weighted average common shares outstanding		551,369		551,369		565,697		565,697
Weighted average net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock (1)		—		9,572		—		6,155
Weighted average number of shares outstanding		551,369		560,941		565,697		571,852
Net income available to common shareholders	$	2,428,908	$	2,428,908	$	699,319	$	699,319

Net earnings per share available to common shareholders	$	4.41	$	4.33	$	1.24	$	1.22

(1)

Diluted earnings per share calculation includes all stock options and restricted stock units deemed to be dilutive.


	For the six months ended March
	2021				2020
	Basic		Diluted		Basic		Diluted
Weighted average common shares outstanding		549,729		549,729		564,129		564,129
Weighted average net additional shares outstanding assuming dilutive options exercised and proceeds used to purchase treasury stock (1)		—		8,012		—		5,727
Weighted average number of shares outstanding		549,729		557,741		564,129		569,856
Net income available to common shareholders	$	5,506,518	$	5,506,518	$	1,151,188	$	1,151,188

Net earnings per share available to common shareholders	$	10.02	$	9.87	$	2.04	$	2.02

(1)

Diluted earnings per share calculation includes all stock options and restricted stock units deemed to be dilutive.