Earnings per share (Tables)

12 Months Ended

Dec. 31, 2018

Basic and diluted earnings (loss) per share

The calculation of the basic and diluted EPS is as follows:



	For the Years Ended December 31,
	2018	2017	2016
	($000 omitted)
Numerator:
Net income attributable to Stewart	47,523	48,659	55,478
Less: Cash paid on Class B Common Shares conversion (a)	—	—	(12,000	)
Adjusted net income for calculating basic and diluted EPS	47,523	48,659	43,478

Denominator (000):
Basic average shares outstanding	23,543	23,445	23,364
Average number of dilutive shares relating to restricted shares and units	142	152	108
Diluted average shares outstanding	23,685	23,597	23,472

Basic earnings per share attributable to Stewart	2.02	2.08	1.86
Diluted earnings per share attributable to Stewart	2.01	2.06	1.85

(a) - In accordance with the ASC 260, Earnings Per Share, the $12.0 million payment to the holders of the Class B Common Stock shares in 2016 (refer to Note 12) is treated in a manner similar to the treatment of dividends on preferred stock for the purpose of calculating EPS. Accordingly, the $12.0 million payment was deducted from the 2016 net income to arrive at the adjusted net income for calculating basic and diluted EPS.