Note 3. Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings per share

Reconciliation of basic and diluted weighted average common shares

	First Quarter
	2017	2016
Basic earnings per share:
Weighted average common shares	1,234,478	1,241,733
Diluted earnings per share:
Weighted average common shares	1,234,478	1,241,733
Dilutive effect of stock awards	—	1,205
Weighted average common and incremental shares	1,234,478	1,242,938
Anti-dilutive stock awards excluded from the calculation of earnings per share	1,497	—

Summary of outstanding shares

	March 31,  2017			December 31,  2016
Common stock authorized		2,500,000			2,500,000
Common stock issued		2,142,202			2,142,202
Treasury stock held by the Company		(74,589	)		(75,009	)
Outstanding shares		2,067,613			2,067,193
Proportional ownership of the Company's common stock in investment partnerships		(838,012	)		(834,889	)
Net outstanding shares for financial reporting purposes		1,229,601			1,232,304