Attached files
| file | filename |
|---|---|
| EX-10.1 - EXHIBIT 10.1 - FutureFuel Corp. | ex10-1.htm |
| EX-31.(A) - EXHIBIT 31.(A) - FutureFuel Corp. | ex31-a.htm |
| EX-31.(B) - EXHIBIT 31.(B) - FutureFuel Corp. | ex31-b.htm |
| EX-32 - EXHIBIT 32 - FutureFuel Corp. | ex32.htm |
| 10-Q - FORM 10-Q - FutureFuel Corp. | ff20150930_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, 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 and nine-month period ended September 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 |
For the nine months ended |
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2015 |
2014 |
2015 |
2014 |
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Numerator |
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Net income |
$ | 4,850 | $ | 11,451 | $ | 16,774 | $ | 23,072 | ||||||||
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Less: distributed earnings allocated to non-vested stock |
(15 | ) | (42 | ) | (52 | ) | (72 | ) | ||||||||
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Less: undistributed earnings allocated to non-vested restricted stock |
(12 | ) | (50 | ) | (57 | ) | (60 | ) | ||||||||
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Numerator for basic earnings per share |
$ | 4,823 | $ | 11,359 | $ | 16,665 | $ | 22,940 | ||||||||
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Effect of dilutive securities: |
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Add: undistributed earnings allocated to non-vested restricted stock |
12 | 50 | 57 | 60 | ||||||||||||
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Less: undistributed earnings reallocated to non-vested restricted stock |
(12 | ) | (50 | ) | (61 | ) | (60 | ) | ||||||||
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Numerator for diluted earnings per share |
$ | 4,823 | $ | 11,359 | $ | 16,661 | $ | 22,940 | ||||||||
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Denominator: |
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Weighted average shares outstanding – basic |
43,460,449 | 43,361,123 | 43,418,243 | 43,352,552 | ||||||||||||
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Effect of dilutive securities: |
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Stock options and other awards |
837 | 26,115 | 6,180 | 43,014 | ||||||||||||
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Weighted average shares outstanding – diluted |
43,461,286 | 43,387,238 | 43,424,423 | 43,395,566 | ||||||||||||
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Basic earnings per share |
$ | 0.11 | $ | 0.26 | $ | 0.38 | $ | 0.53 | ||||||||
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Diluted earnings per share |
$ | 0.11 | $ | 0.26 | $ | 0.38 | $ | 0.53 | ||||||||