EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE

16. EARNINGS PER SHARE

The following table sets forth the computations of basic and diluted earnings per share for the years ended December 31, 2011, 2010 and 2009:

	2011		2010		2009
	(In thousands, except per share amounts)
Numerator:
Net earnings attributable to Weyco Group, Inc.	$	15,251	$	13,668	$	12,821
Denominator:
Basic weighted average shares outstanding		11,066		11,293		11,266
Effect of dilutive securities:
Employee stock-based awards		93		200		244
Diluted weighted average shares outstanding		11,159		11,493		11,510
Basic earnings per share	$	1.38	$	1.21	$	1.14
Diluted earnings per share	$	1.37	$	1.19	$	1.11

Diluted weighted average shares outstanding in 2011 exclude anti-dilutive unvested restricted stock and outstanding stock options totaling 834,100 shares at a weighted average price of $24.83. Diluted weighted average shares outstanding in 2010 exclude anti-dilutive unvested restricted stock and outstanding stock options totaling 474,100 shares at a weighted average price of $26.84. Diluted weighted average shares outstanding in 2009 exclude anti-dilutive unvested restricted stock and outstanding stock options totaling 244,850 shares at a weighted average price of $29.16.