FutureFuel (FF) 10-Q 2020 Q2 Quarterly report

Exhibit 11

Statement  of Computation of Per Share Earnings

In the three months and six months ended June 30, 2020 and 2019, FutureFuel computed earnings per share using the treasury method. 

The composition of basic and diluted earnings per share were as follows:

(Dollars in thousands, except per share amounts)

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	15,159	$	3,687	$	34,202	$	9,186
Numerator for diluted earnings per share	$	15,159	$	3,687	$	34,202	$	9,186
Denominator:
Weighted average shares outstanding – basic		43,743,243		43,743,243		43,743,243		43,743,243
Effect of dilutive securities:
Stock options and other awards		497		-		248		2,866
Weighted average shares outstanding – diluted		43,743,740		43,743,243		43,743,491		43,746,109
Basic earnings per share	$	0.35	$	0.08	$	0.78	$	0.21
Diluted earnings per share	$	0.35	$	0.08	$	0.78	$	0.21