Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - FutureFuel Corp. | ex32.htm |
| EX-31.B - EXHIBIT 31.B - FutureFuel Corp. | ex31-b.htm |
| EX-31.A - EXHIBIT 31.A - FutureFuel Corp. | ex31-a.htm |
| EX-10.1 - EXHIBIT 10.1 - FutureFuel Corp. | ex10-1.htm |
| 10-Q - FORM 10-Q - FutureFuel Corp. | ff20170515_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, 2017 or 2016.
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 six-month periods ended June 30, 2017 and 2016 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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2017 |
2016 |
2017 |
2016 |
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Numerator: |
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Net income |
$ | 834 | $ | 14,224 | $ | 4,230 | $ | 24,793 | ||||||||
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Less: distributed earnings allocated to non-vested stock |
- | (10 | ) | - | (24 | ) | ||||||||||
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Less: undistributed earnings allocated to non-vested restricted stock |
(1 | ) | (42 | ) | (10 | ) | (96 | ) | ||||||||
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Numerator for basic earnings per share |
$ | 833 | $ | 14,172 | $ | 4,220 | $ | 24,673 | ||||||||
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Effect of dilutive securities: |
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Add: undistributed earnings allocated to non-vested restricted stock |
1 | 42 | 10 | 96 | ||||||||||||
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Less: undistributed earnings reallocated to non-vested restricted stock |
(1 | ) | (42 | ) | (10 | ) | (96 | ) | ||||||||
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Numerator for diluted earnings per share |
$ | 833 | $ | 14,172 | $ | 4,220 | $ | 24,673 | ||||||||
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Denominator: |
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Weighted average shares outstanding – basic |
43,665,171 | 43,527,857 | 43,641,038 | 43,501,599 | ||||||||||||
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Effect of dilutive securities: |
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Stock options and other awards |
10,517 | 902 | 8,362 | 5,910 | ||||||||||||
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Weighted average shares outstanding – diluted |
43,675,688 | 43,528,759 | 43,649,400 | 43,507,509 | ||||||||||||
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Basic earnings per share |
$ | 0.02 | $ | 0.33 | $ | 0.10 | $ | 0.57 | ||||||||
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Diluted earnings per share |
$ | 0.02 | $ | 0.33 | $ | 0.10 | $ | 0.57 | ||||||||