Per Share Information

12 Months Ended

Sep. 30, 2020

6. PER SHARE INFORMATION

Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. If the effect is dilutive, participating securities are included in the computation of basic earnings per share. Our participating securities do not have a contractual obligation to share in the losses in any given period. As a result, these participating securities will not be allocated any losses in the periods of net losses, but will be allocated income in the periods of net income using the two-class method.

The following table reconciles the components of the basic and diluted earnings (loss) per share for the years ended September 30, 2020, 2019 and 2018:


	Year Ended September 30,
	2020		2019		2018
Numerator:
Net income (loss) attributable to common shareholders of IES Holdings, Inc.	$	40,830	$	32,950	$	(14,113)
Increase (decrease) in noncontrolling interest	194		—		(44)
Net income attributable to restricted shareholders of IES Holdings, Inc.	575		256		—
Net income (loss) attributable to IES Holdings, Inc.	$	41,599	$	33,206	$	(14,157)

Denominator:
Weighted average common shares outstanding — basic	20,795,892		21,082,012		21,196,388
Effect of dilutive stock options and non-vested securities	296,518		233,233		—
Weighted average common and common equivalent shares outstanding — diluted	21,092,410		21,315,245		21,196,388

Earnings (loss) per share attributable to common shareholders of IES Holdings, Inc.:
Basic	$	1.96	$	1.56	$	(0.67)
Diluted	$	1.94	$	1.55	$	(0.67)

For the years ended September 30, 2020 and September 30, 2019, the average price of our common shares exceeded the exercise price of outstanding options; therefore, outstanding stock options were included in the computation of diluted earnings per share.

When an entity has a net loss, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, we have utilized basic shares outstanding to calculate both basic and diluted loss per share for the year ended

September 30, 2018. The number of potential anti-dilutive shares excluded from the calculation was 301,879 shares for the year ended September 30, 2018.