Note

10:

Earnings Per Share

A reconciliation of the common share components for the basic and diluted earnings per share calculations is as follows:

	Three Months Ended
	March 2,		March 3,
(Shares in thousands)	2019		2018
Weighted-average common shares - basic		50,752		50,471
Equivalent shares from share-based compensations plans		1,149		1,427
Weighted-average common and common equivalent shares - diluted		51,901		51,898

Basic earnings per share is calculated by dividing net income attributable to H.B. Fuller by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is based upon the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to share-based compensation awards. We use the treasury stock method to calculate the effect of outstanding shares, which computes total employee proceeds as the sum of (a) the amount the employee must pay upon exercise of the award and (b) the amount of unearned share-based compensation costs attributed to future services. Share-based compensation awards for which total employee proceeds exceed the average market price over the applicable period have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share.

Share-based compensation awards for

3,002,073

and

2,226,893

shares for the

three

months ended

March 2, 2019

and

March 3, 2018,

respectively, were excluded from the diluted earnings per share calculations because they were antidilutive.