Basic:

Weighted average common shares outstanding

15,484,464

15,411,680

15,461,804

15,384,758

Net income attributable to National HealthCare Corporation

$

39,239

$

42,789

$

95,166

$

95,846

Earnings per common share, basic

$

2.53

$

2.78

$

6.15

$

6.23

Diluted:

Weighted average common shares outstanding

15,484,464

15,411,680

15,461,804

15,384,758

Effects of dilutive instruments

180,066

255,641

151,701

191,536

Weighted average common shares outstanding

15,664,530

15,667,321

15,613,505

15,576,294

Net income attributable to National HealthCare Corporation

$

39,239

$

42,789

$

95,166

$

95,846

Earnings per common share, diluted

$

2.50

$

2.73

$

6.10

$

6.15