Annual report pursuant to Section 13 and 15(d)

Earnings per Share

v3.10.0.1
Earnings per Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share
Basic net income per common share is calculated by dividing the income available to common stockholders by the weighted average common shares outstanding during each reporting period.  Diluted net income per common share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents (stock options and restricted stock units) were exercised or converted into common stock, calculated using the treasury stock method. We had no participating securities during the years ended December 31, 2018, 2017 and 2016.
Common stock equivalents of 39,877, 40,541 and 208,202 for the years ended December 31, 2018, 2017 and 2016, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.
 
For the Years Ended December 31,
 
2018
 
2017(1)
 
2016
Numerator:
 
 
 
 
 
Net income available to common stockholders for basic and diluted net income per common share
$
1,175,893

 
$
647,908

 
$
745,933

Denominator:
 

 
 
 
 
Weighted average common shares outstanding for basic net income per common share
4,461,827

 
4,637,553

 
4,917,050

Weighted average impact of dilutive equity instruments
98,893

 
85,982

 
47,678

Weighted average shares for diluted net income per common share
4,560,720

 
4,723,535

 
4,964,728

Net income per common share:
 

 
 
 
 
Basic
$
0.26

 
$
0.14

 
$
0.15

Diluted
$
0.26

 
$
0.14

 
$
0.15


(1)
Our net income per basic and diluted share includes the impact of $184,599 in income tax expense, or a decrease of approximately $0.04 per share due to the reduction in our net deferred tax asset balance as a result of the Tax Act.