Basic:

Weighted average common shares outstanding

15,462,135

15,391,535

15,450,286

15,371,150

Net income attributable to National HealthCare Corporation

$

23,722

$

26,844

$

55,927

$

53,057

Earnings per common share, basic

$

1.53

$

1.74

$

3.62

$

3.45

Diluted:

Weighted average common shares outstanding

15,462,135

15,391,535

15,450,286

15,371,150

Effects of dilutive instruments

137,503

164,077

137,497

159,474

Weighted average common shares outstanding

15,599,638

15,555,612

15,587,783

15,530,624

Net income attributable to National HealthCare Corporation

$

23,722

$

26,844

$

55,927

$

53,057

Earnings per common share, diluted

$

1.52

$

1.73

$

3.59

$

3.42