Note 9 – Earnings Per Share

The following tables illustrate basic and diluted EPS for the three months ended March 31, 2019 and 2018:



	Three months ended
	March 31,
	2019		2018
(in thousands, except per share data)	Common Stock		Common Stock
Basic EPS:
Net income attributable to TSYS common shareholders	$	161,607		141,841
Less income allocated to nonvested awards		(38)		(168)
Net income allocated to common stock for EPS calculation (a)	$	161,569		141,673
Weighted average shares outstanding		178,435		181,612
Less participating securities		(41)		(217)
Average common shares outstanding (b)		178,394		181,395
Basic EPS (a)/(b)	$	0.91		0.78

Diluted EPS:
Net income attributable to TSYS common shareholders	$	161,607		141,841
Less income allocated to nonvested awards		(38)		(168)
Add income reallocated to nonvested awards1		38		168
Net income allocated to common stock for EPS calculation (c)	$	161,607		141,841
Weighted average shares outstanding		178,435		181,612
Less participating securities		(41)		(217)
Average common shares outstanding		178,394		181,395
Increase due to assumed issuance of shares related to common equivalent shares outstanding		867		1,236
Average nonvested awards1		625		667
Average common and common equivalent shares outstanding (d)		179,886		183,298
Diluted EPS (c)/(d)	$	0.90		0.77

In accordance with the diluted EPS guidance under the two-class method, the Company uses the approach- either the treasury stock method or the two-class method assuming a participating security is not exercised- that is more dilutive.

The diluted EPS calculation excludes stock options and nonvested awards that are exercisable into 0.3 million common shares for the three months ended March 31, 2019, and excludes 0.3 million common shares for the three months ended March 31, 2018, because their inclusion would have been anti-dilutive.