Attached files

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EX-31 - EXHIBIT 31(B) - FutureFuel Corp.ex31-b.htm
EX-10 - EXHIBIT 10.19.2 - FutureFuel Corp.ex10-192.htm
EX-31 - EXHIBIT 31(A) - FutureFuel Corp.ex31-a.htm
EX-10 - EXHIBIT 10.19.1 - FutureFuel Corp.ex10-191.htm
EX-32 - EXHIBIT 32 - FutureFuel Corp.ex32.htm
EXCEL - IDEA: XBRL DOCUMENT - FutureFuel Corp.Financial_Report.xls
10-Q - FORM 10-Q - FutureFuel Corp.ff20140930_10q.htm

 

Exhibit 11

 

Statement of Computation of Per Share Earnings

 

We compute earnings per share using the two-class method in accordance with ASC 260, Earnings Per Share. The two-class method is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at September 30, 2014 or 2013.

 

Contingently issuable shares associated with outstanding service-based restricted stock units were not included in the earnings per share calculations for the three-month and nine-month periods ended September 30, 2014 as the vesting conditions had not been satisfied. No such restricted stock units existed in 2013.

 

   

For the three months ended

September 30,

   

For the nine months ended

September 30,

 

Numerator:

 

2014

   

2013

   

2014

   

2013

 

Net income

  $ 11,451     $ 15,297     $ 23,072     $ 47,503  

Less: distributed earnings allocated to nonvested restricted stock

    (42 )     -       (72 )     -  

Less: undistributed earnings allocated to nonvested restricted stock

    (50 )     -       (60 )     -  

Numerator for basic earnings per share

  $ 11,359     $ 15,297     $ 22,940     $ 47,503  

Effect of dilutive securities:

                               

Add: undistributed earnings allocated to nonvested restricted stock

    50       -       60       -  

Less: undistributed earnings reallocated to nonvested restricted stock

    (50 )     -       (60 )     -  

Numerator for diluted earnings per share

  $ 11,359     $ 15,297     $ 22,940     $ 47,503  

Denominator:

                               

Weighted average shares outstanding - basic

    43,361,123       43,339,000       43,352,552       43,202,022  

Effect of dilutive securities: Stock options and other awards

    26,115       55,369       43,014       34,743  

Weighted average shares outstanding – diluted

    43,387,238       43,394,369       43,395,566       43,236,765  
                                 

Basic earnings per share

  $ 0.26     $ 0.35     $ 0.53     $ 1.10  

Diluted earnings per share

  $ 0.26     $ 0.35     $ 0.53     $ 1.10