Earnings Per Share

3 Months Ended

Mar. 31, 2019

On February 7, 2019, Henry Schein distributed approximately 71 million shares of Covetrus common stock to its stockholders. The computation of basic earnings per common share ("EPS") for periods prior to the Separation was calculated using the shares distributed by Henry Schein on February 7, 2019. The weighted average number of shares outstanding for diluted EPS for the periods prior to the Separation also include approximately 1 million of diluted common share equivalents for restricted stock and restricted stock units as these share-based awards were previously issued by Henry Schein and outstanding at the time of the Separation and were assumed by Covetrus following the Separation.

The numerator for both basic and diluted EPS is net income.

The following is a reconciliation of basic shares to diluted shares (in thousands):



	March 31,	March 31,
	2019	2018
Basic shares	94,796	71,451
Effect of dilutive shares*	—	522
Diluted shares	94,796	71,973

* Shares from share-based awards are not included for periods in which a net loss occurs because to do so would be anti-dilutive