Note 16 – Earnings Per Share

In accordance with U.S. GAAP, basic earnings per share is computed by dividing net income (loss) attributable to Superior, less preferred dividends, by the weighted average number of common shares outstanding. For purposes of calculating diluted earnings per share, net income (loss) attributable to Superior is divided by the total of the weighted average shares outstanding plus the dilutive effect of our redeemable preferred stock, outstanding stock options and time and performance based restricted stock units under the treasury stock method, which includes consideration of stock-based compensation required by U.S. GAAP.

The performance shares discussed in Note 19, “Stock-Based Compensation” are not included in the diluted earnings per share because the performance metrics had not been met as of the period ended March 31, 2018. The redeemable preferred shares discussed in Note 14, “Redeemable Preferred Shares” are not included in the diluted earnings per share because the conversion would be anti-dilutive as of the period ended March 31, 2018.


(Dollars in thousands, except per share amounts)	Three Months Ended
	March 31, 2018			March 26, 2017
Basic Income Per Share:
Net income	$	10,317		$	3,102
Less: Redeemable preferred stock dividends and accretion		(8,069	)		—
Dividends to redeemable noncontrolling equity		(573	)		—

Basic Numerator	$	1,675		$	3,102

Weighted average shares outstanding - Basic		24,936			25,030

Basic earnings per share	$	0.07		$	0.12

Diluted Income Per Share:
Net income	$	10,317		$	3,102
Less: Redeemable preferred stock dividends and accretion		(8,069	)		—
Dividends to redeemable noncontrolling equity		(573	)		—

Basic Numerator	$	1,675		$	3,102

Weighted average shares outstanding - Basic		24,936			25,030
Weighted average dilutive stock options and restricted stock units		44			105

Weighted average shares outstanding - Diluted		24,980			25,135

Diluted earnings per share	$	0.07		$	0.12