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Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

 

 

 

 

 

11.

Earnings Per Share:

 

We have adopted the provisions of ASC 260, “Earnings Per Share,” requiring presentation of both basic and diluted earnings per share. A reconciliation of the numerators and denominators of the basic and diluted per share calculations is presented below (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

2012

Numerator for both basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

Net income attributable to Hallmark Financial Services, Inc.

 

$
13,429 

 

$
8,245 

 

$
3,524 

 

 

 

 

 

 

 

 

 

 

Denominator, basic shares

 

 
19,197 

 

 
19,263 

 

 
19,263 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock-based compensation awards

 

 
169 

 

 
98 

 

 
6 

Denominator, diluted shares

 

 
19,366 

 

 
19,361 

 

 
19,269 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

$
0.70 

 

$
0.43 

 

$
0.18 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

$
0.69 

 

$
0.43 

 

$
0.18 

 

We had 544,999 shares, 779,999 shares and 794,999 shares of common stock potentially issuable upon exercise of employee stock options for years ended December 31, 2014, 2013 and 2012, respectively, that were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive. These instruments expire at varying times from 2016 to 2021.