Earnings per share

6 Months Ended

Jun. 30, 2020

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 restricted shares and units were vested and stock options were exercised. 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,
	2020	2019	2020	2019
	($000 omitted, except per share)
Numerator:
Net income attributable to Stewart	34,146	19,306	39,322	12,540

Denominator (000):
Basic average shares outstanding	23,656	23,614	23,647	23,605
Average number of dilutive shares relating to grants of restricted shares and units	100	144	110	145
Diluted average shares outstanding	23,756	23,758	23,757	23,750

Basic earnings per share attributable to Stewart	1.44	0.82	1.66	0.53

Diluted earnings per share attributable to Stewart	1.44	0.81	1.66	0.53