Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - FutureFuel Corp. | ex_128918.htm |
| EX-31.B - EXHIBIT 31.(B) - FutureFuel Corp. | ex_128917.htm |
| EX-31.A - EXHIBIT 31.(A) - FutureFuel Corp. | ex_128916.htm |
| 10-Q - FORM 10-Q - FutureFuel Corp. | ff20180930_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 September 30, 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 and nine-month periods ended September 30, 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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Three months ended September 30, |
Nine months ended September 30, |
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2018 |
2017 |
2018 |
2017 |
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Numerator: |
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Net income |
$ | 9,445 | $ | 3,334 | $ | 51,322 | $ | 7,564 | ||||||||
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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 |
(4 | ) | (3 | ) | (26 | ) | (15 | ) | ||||||||
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Numerator for basic earnings per share |
$ | 9,441 | $ | 3,331 | $ | 51,296 | $ | 7,549 | ||||||||
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Effect of dilutive securities: |
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Add: undistributed earnings allocated to non-vested restricted stock |
4 | 3 | 26 | 15 | ||||||||||||
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Less: undistributed earnings reallocated to non-vested restricted stock |
(4 | ) | (3 | ) | (26 | ) | (15 | ) | ||||||||
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Numerator for diluted earnings per share |
$ | 9,441 | $ | 3,331 | $ | 51,296 | $ | 7,549 | ||||||||
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Denominator: |
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Weighted average shares outstanding – basic |
43,724,195 | 43,705,234 | 43,719,215 | 43,662,672 | ||||||||||||
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Effect of dilutive securities: |
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Stock options and other awards |
8,725 | 9,519 | 6,155 | 8,748 | ||||||||||||
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Weighted average shares outstanding – diluted |
43,732,920 | 43,714,753 | 43,725,370 | 43,671,420 | ||||||||||||
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Basic earnings per share |
$ | 0.22 | $ | 0.08 | $ | 1.17 | $ | 0.17 | ||||||||
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Diluted earnings per share |
$ | 0.22 | $ | 0.08 | $ | 1.17 | $ | 0.17 | ||||||||