Earnings Per Share

3 Months Ended

Mar. 31, 2019

NOTE 12 – EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss) attributable to Superior, after deducting preferred dividends and accretion and European non-controlling redeemable equity dividends, by the weighted average number of common shares outstanding. For purposes of calculating diluted earnings per share, the weighted average shares outstanding includes the dilutive effect of outstanding stock options and time and performance based restricted stock units under the treasury stock method. The redeemable preferred shares discussed in Note 10, “Redeemable Preferred Stock” are not included in the diluted earnings per share because the conversion would be anti-dilutive for the periods ended March 31, 2019 and March 31, 2018.

Three Months Ended March 31,	2019			2018
(Dollars in thousands, except per share amounts)
Basic Earnings Per Share:
Reported net income	$	1,950		$	10,317
Less: Redeemable preferred stock dividends and accretion		(7,771	)		(8,069	)
Less: European non-controlling redeemable equity dividend		(121	)		(573	)
Basic numerator	$	(5,942	)	$	1,675
Basic (loss) earnings per share	$	(0.24	)	$	0.07
Weighted average shares outstanding-Basic		25,034			24,936
Diluted Earnings Per Share:
Reported net income	$	1,950		$	10,317
Less: Redeemable preferred stock dividends and accretion		(7,771	)		(8,069	)
Less: European non-controlling redeemable equity dividend		(121	)		(573	)
Diluted numerator	$	(5,942	)	$	1,675
Diluted (loss) earnings per share	$	(0.24	)	$	0.07
Weighted average shares outstanding-Basic		25,034			24,936
Dilutive effect of common share equivalents		—			44
Weighted average shares outstanding-Diluted		25,034			24,980