Note 9 - Earnings Per Share

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 9 – Earnings per Share

Basic net income per share is computed based on the weighted average number of common shares outstanding for each period presented. Diluted net income per share reflects the potential dilution that would have occurred if securities to issue common stock were exercised, converted, or resulted in the issuance of common stock that would have then shared in our earnings.

The following table summarizes the earnings and the weighted average number of common shares used in the calculation of basic and diluted earnings per share (in thousands, except for share and per share amounts):

	Three Months Ended September 30					Nine Months Ended September 30
	2023		2022			2023		2022
Basic:
Weighted average common shares outstanding		15,299,913		15,445,569			15,311,453		15,438,375
Net income attributable to National HealthCare Corporation	$	10,388	$	(2,429	)	$	38,392	$	16,092
Earnings per common share, basic	$	0.68	$	(0.16	)	$	2.51	$	1.04
Diluted:
Weighted average common shares outstanding		15,299,913		15,445,569			15,311,453		15,438,375
Effects of dilutive instruments		24,598		-			22,816		38,728
Weighted average common shares outstanding		15,324,511		15,445,569			15,334,269		15,477,103
Net income attributable to National HealthCare Corporation	$	10,388	$	(2,429	)	$	38,392	$	16,092
Earnings per common share, diluted	$	0.68	$	(0.16	)	$	2.50	$	1.04

In the above table, options to purchase 637,409 and 389,781 shares of our common stock have been excluded for the nine months ended September 30, 2023 and 2022, respectively, due to their anti-dilutive impact.