Attached files
file | filename |
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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, |
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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: |
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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: |
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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 |