Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - FutureFuel Corp. | ex_112893.htm |
| EX-31.B - EXHIBIT 31.(B) - FutureFuel Corp. | ex_112892.htm |
| EX-31.A - EXHIBIT 31.(A) - FutureFuel Corp. | ex_112891.htm |
| 10-Q - FORM 10-Q - FutureFuel Corp. | ff20180331_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 March 31, 2018 or 2017.
Contingently issuable shares associated with outstanding service-based restricted stock units were not included in the earnings per share calculations for the three-month periods ended March 31, 2018 and 2017 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 March 31, |
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2018 |
2017 |
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Numerator: |
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Net income |
$ | 40,354 | $ | 3,396 | ||||
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Less: distributed earnings allocated to non-vested stock |
- | - | ||||||
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Less: undistributed earnings allocated to non-vested restricted stock |
(23 | ) | (10 | ) | ||||
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Numerator for basic earnings per share |
$ | 40,331 | $ | 3,386 | ||||
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Effect of dilutive securities: |
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Add: undistributed earnings allocated to non-vested restricted stock |
23 | 10 | ||||||
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Less: undistributed earnings reallocated to non-vested restricted stock |
(23 | ) | (10 | ) | ||||
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Numerator for diluted earnings per share |
$ | 40,331 | $ | 3,386 | ||||
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Denominator: |
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Weighted average shares outstanding – basic |
43,716,670 | 43,616,636 | ||||||
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Effect of dilutive securities: |
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Stock options and other awards |
5,524 | 6,207 | ||||||
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Weighted average shares outstanding – diluted |
43,722,194 | 43,622,843 | ||||||
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Basic earnings per share |
$ | 0.92 | $ | 0.08 | ||||
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Diluted earnings per share |
$ | 0.92 | $ | 0.08 | ||||