Basic:

Weighted average common shares outstanding

15,617,655

15,462,135

15,579,854

15,450,286

Net income attributable to National HealthCare Corporation

$

40,319

$

23,722

$

76,176

$

55,927

Earnings per common share, basic

$

2.58

$

1.53

$

4.89

$

3.62

Diluted:

Weighted average common shares outstanding

15,617,655

15,462,135

15,579,854

15,450,286

Effects of dilutive instruments

246,674

137,503

237,792

137,497

Weighted average common shares outstanding

15,864,329

15,599,638

15,817,646

15,587,783

Net income attributable to National HealthCare Corporation

$

40,319

$

23,722

$

76,176

$

55,927

Earnings per common share, diluted

$

2.54

$

1.52

$

4.82

$

3.59