Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - FutureFuel Corp. | ex32.htm |
| EX-31.B - EXHIBIT 31.(B) - FutureFuel Corp. | ex31-b.htm |
| EX-10.3 - EXHIBIT 10.3 - FutureFuel Corp. | ex10-3.htm |
| EX-31.A - EXHIBIT 31.(A) - FutureFuel Corp. | ex31-a.htm |
| 10-Q - FORM 10-Q - FutureFuel Corp. | ff20150630_10q.htm |
Exhibit 11
Statement of Computation of Per Share Earnings
We compute earnings per share using the two-class method in accordance with Accounting Standards Codification Topic No. 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 non-vested 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 June 30, 2015 or 2014.
Contingently issuable shares associated with outstanding service-based restricted stock units were not included in the earnings per share calculations for the three-month period ended June 30, 2015 as the vesting conditions had not been satisfied.
The composition of basic and diluted earnings per share were as follows:
(Dollars in thousands, except per share amounts)
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For the three months ended June 30: |
For the six months ended June 30: |
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2015 |
2014 |
2015 |
2014 |
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| Numerator: | ||||||||||||||||
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Net income |
$ | 3,793 | $ | 5,347 | $ | 11,924 | $ | 11,621 | ||||||||
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Less: distributed earnings allocated to non-vested restricted stock |
(16 | ) | (30 | ) | (37 | ) | (30 | ) | ||||||||
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Less: undistributed earnings allocated to non-vested restricted stock |
(7 | ) | (1 | ) | (49 | ) | (7 | ) | ||||||||
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Numerator for basic earnings per share |
$ | 3,770 | $ | 5,316 | $ | 11,838 | $ | 11,584 | ||||||||
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Effect of dilutive securities: |
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Add: undistributed earnings allocated to non-vested restricted stock |
7 | 1 | 49 | 7 | ||||||||||||
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Less: undistributed earnings reallocated to non-vested restricted stock |
(7 | ) | (1 | ) | (49 | ) | (7 | ) | ||||||||
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Numerator for diluted earnings per share |
$ | 3,770 | $ | 5,316 | $ | 11,838 | $ | 11,584 | ||||||||
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Denominator: |
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Weighted average shares outstanding – basic |
43,420,923 | 43,352,836 | 43,396,789 | 43,348,195 | ||||||||||||
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Effect of dilutive securities: |
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Stock options and other awards |
7,810 | 197,293 | 8,852 | 123,685 | ||||||||||||
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Weighted average shares outstanding – diluted |
43,428,733 | 43,550,129 | 43,405,641 | 43,471,880 | ||||||||||||
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Basic earnings per share |
$ | 0.09 | $ | 0.12 | $ | 0.27 | $ | 0.27 | ||||||||
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Diluted earnings per share |
$ | 0.09 | $ | 0.12 | $ | 0.27 | $ | 0.27 | ||||||||