Basic:

Weighted average common shares outstanding

15,393,782

15,310,142

15,410,222

Net income attributable to common stockholders of National Healthcare Corporation

$

101,927

$

66,798

$

22,445

Earnings per common share, basic

$

6.62

$

4.36

$

1.46

Diluted:

Weighted average common shares outstanding

15,393,782

15,310,142

15,410,222

Dilutive effect of stock options

204,746

67,201

36,989

Assumed average common shares outstanding

15,598,528

15,377,343

15,447,211

Net income attributable to common stockholders of National Healthcare Corporation

$

101,927

$

66,798

$

22,445

Earnings per common share, diluted

$

6.53

$

4.34

$

1.45