Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v3.21.2
Earnings Per Common Share
9 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note 8. 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 and nine months ended June 30, 2021 and 2020, basic and diluted earnings per common share were as follows:

 

(in thousands except per share amounts)

 

Three Months Ended

June 30,

 

 

Nine Months Ended

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net income attributable to Alico, Inc. common stockholders

 

$

27,119

 

 

$

2,096

 

 

$

35,831

 

 

$

6,458

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding - basic

 

 

7,521

 

 

 

7,486

 

 

 

7,512

 

 

 

7,481

 

Dilutive effect of equity-based awards

 

 

 

 

 

7

 

 

 

 

 

 

12

 

Weighted average number of common shares outstanding - diluted

 

 

7,521

 

 

 

7,493

 

 

 

7,512

 

 

 

7,493

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share attributable to Alico, Inc. common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

3.61

 

 

$

0.28

 

 

$

4.77

 

 

$

0.86

 

Diluted

 

$

3.61

 

 

$

0.28

 

 

$

4.77

 

 

$

0.86

 

 

For the three and nine months ended June 30, 2021, the equity awards had no dilutive or anti-dilutive impact on the earnings per common share. For the three and nine months ended June 30, 2020, there were anti-dilutive equity awards excluded from the calculation of diluted earnings per common share.