Note

11:

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				Six Months Ended
	June 1,		June 2,		June 1,		June 2,
(Shares in thousands)	2019		2018		2019		2018
Weighted-average common shares - basic		50,902		50,551		50,827		50,511
Equivalent shares from share-based compensations plans		1,203		1,295		1,176		1,361
Weighted-average common and common equivalent shares - diluted		52,105		51,846		52,003		51,872

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

2,751,956

and

2,223,223

shares for the

three

months ended

June 1, 2019

and

June 2, 2018,

respectively, and

3,020,604

and

2,410,032

shares for the

six

months ended

June 1, 2019

and

June 2, 2018,

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