Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

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Earnings Per Common Share
 3 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share
Basic earnings per share for Alico's common stock is calculated by dividing net income attributable to Alico, Inc. common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of common shares issuable under equity-based compensation plans in accordance with the treasury stock method, except where the inclusion of such common shares would have an anti-dilutive impact.

For the three months ended December 31, 2018 and 2017, basic and diluted earnings per common share were as follows:

(in thousands except per share amounts)
 
 
 
 
Three Months Ended December 31,
 
2018
 
2017
 
 
 
 
Net (loss) income attributable to Alico, Inc. common stockholders
$
(2,467
)
 
$
8,746

 
 
 
 
Weighted average number of common shares outstanding - basic
7,479

 
8,245

Dilutive effect of equity-based awards
—

 
119

Weighted average number of common shares outstanding - diluted
7,479

 
8,364

 
 
 
 
Net (loss) income per common shares attributable to Alico, Inc. common stockholders:
 
 
 
Basic
$
(0.33
)
 
$
1.06

Diluted
$
(0.33
)
 
$
1.05



For the quarter ended December 31, 2018, equity awards are comprised of 685,000 stock options granted to Executive Officers, after taking into effect the forfeiture of 375,000 stock options (see Note 12. "Stockholders Equity"). For the quarter ended December 31, 2018, certain of these of these stock options were excluded from the diluted earnings per share because they were anti-dilutive. For the quarter ended December 31, 2017 there were no anti-dilutive equity awards that were excluded from the calculation of diluted earnings per common share.