Note 11: Earnings Per Share

The table below sets forth the reconciliation for net loss and weighted average shares used for calculating basic and diluted earnings per share (“EPS”). The Company’s Series A and Series B common stock equally share in the distributed and undistributed earnings.



	Three Months Ended March 31,
	2019		2018
		(Restated)
Earnings (Numerator)
Net loss	$	(2,135)	$	(4,014)
Less: dividends to participating securities		—		45
Net loss available to common shareholders	$	(2,135)	$	(4,059)

Shares (Denominator)
Weighted average common shares outstanding (basic and diluted)		21,594,262		21,716,419

Loss Per Share
Basic and diluted	$	(0.10)	$	(0.19)

Holders of service-based restricted stock units (“RSUs”) participate in A. H. Belo dividends on a one-for-one share basis. Distributed and undistributed income associated with participating securities is included in the calculation of EPS under the two-class method as prescribed under ASC 260 – Earnings Per Share.

The Company considers outstanding stock options and RSUs in the calculation of earnings per share. A total of 670,111 options and RSUs outstanding as of March 31, 2018, were excluded from the calculation because the effect was anti-dilutive. There were no options or RSUs outstanding as of March 31, 2019.