Earnings per share

6 Months Ended

Jun. 30, 2019

Earnings per share. Basic earnings per share (EPS) attributable to Stewart is calculated by dividing net income attributable to Stewart by the weighted-average number of shares of Common Stock outstanding during the reporting periods. Outstanding shares of Common Stock granted to employees that are not yet vested (restricted shares) are excluded from the calculation of the weighted-average number of shares outstanding for calculating basic EPS. To calculate diluted EPS, the number of shares is adjusted to include the number of additional shares that would have been outstanding if the restricted shares and restricted units were vested. In periods of loss, dilutive shares are excluded from the calculation of the diluted EPS and diluted EPS is computed in the same manner as basic EPS.

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



	Three Months Ended June 30,		Six Months Ended June 30,
	2019	2018	2019	2018
	($000 omitted, except per share)
Numerator:
Net income attributable to Stewart	19,306	22,378	12,540	18,598

Denominator (000):
Basic average shares outstanding	23,614	23,546	23,605	23,527
Average number of dilutive shares relating to grants of restricted shares and units	144	79	145	80
Basic and diluted average shares outstanding	23,758	23,625	23,750	23,607

Basic earnings per share attributable to Stewart	0.82	0.95	0.53	0.79

Diluted earnings per share attributable to Stewart	0.81	0.95	0.53	0.79