XML 38 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 6 Months Ended
Jan. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
14.
Earnings Per Share

Basic and diluted EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period.  The Company allocates undistributed earnings between the classes on a one-to-one basis when computing earnings per share.  As a result, basic and fully diluted earnings per Class A and Class B shares are equal amounts.
            
The computation of basic earnings per share reconciled to diluted earnings per share follows:

   
Three months ended January 31,
   
Six months ended
January 31
 
   
2013
   
2012
   
2013
   
2012
 
                     
Total income available to Ecology and Environment, Inc.
 
$
1,911,086
   
$
503,504
   
$
2,153,613
   
$
1,663,281
 
Dividend declared
   
1,018,540
     
1,017,776
     
1,018,540
     
1,017,776
 
Undistributed earnings
 
$
892,546
   
$
(514,272
)
 
$
1,135,073
   
$
645,505
 
                                 
Weighted-average common shares outstanding (basic)
   
4,246,371
     
4,242,108
     
4,245,191
     
4,222,776
 
                                 
Distributed earnings per share
 
$
.24
   
$
.24
   
$
.24
   
$
.24
 
Undistributed earnings per share
   
.21
     
(.12
)
   
.27
     
.15
 
Total earnings per share
 
 $
.45
   
 $
.12
   
$
.51
   
$
.39
 

After consideration of all the rights and privileges of the Class A and Class B stockholders discussed in Note 12, in particular the right of the holders of the Class B common stock to elect no less than 75% of the Board of Directors making it highly unlikely that the Company will pay a dividend on Class A common stock in excess of Class B common stock, the Company allocates undistributed earnings between the classes on a one-to-one basis when computing earnings per share. As a result, basic and fully diluted earnings per Class A and Class B share are equal amounts.

The Company has determined that its unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities. These securities shall be included in the computation of earnings per share pursuant to the two-class method. The resulting impact was to include unvested restricted shares in the basic weighted average shares outstanding calculation.