Earnings Per Share |
Earnings Per Share Calculation of basic earnings per share (Basic EPS) and diluted earnings per share (Diluted EPS) is shown below. | | | | | | | | | | | | | | | | | | | Year ended December 31, | (In thousands, except share and per share data) | 2020 | | 2019 | | 2018 | Basic | | | | | | Net income available to common shareholders | $ | 77,588 | | | $ | 81,718 | | | $ | 82,308 | | Less: income attributable to unvested stock-based compensation awards | (857) | | | (1,306) | | | (1,315) | | Net earnings allocated to common shareholders | 76,731 | | | 80,412 | | | 80,993 | | | | | | | | Weighted average shares outstanding, including unvested stock-based compensation awards | 14,933,990 | | | 15,149,535 | | | 15,283,914 | | | | | | | | Less: average unvested stock-based compensation awards | (230,600) | | | (242,478) | | | (244,685) | | Weighted average shares outstanding - Basic | 14,703,390 | | | 14,907,057 | | | 15,039,229 | | | | | | | | Diluted | | | | | | Net earnings allocated to common shareholders | 76,731 | | | 80,412 | | | 80,993 | | | | | | | | Weighted average shares outstanding - Basic | 14,703,390 | | | 14,907,057 | | | 15,039,229 | | | | | | | | Plus: incremental shares from assumed conversion of stock-based compensation awards | 38,650 | | | 66,894 | | | 93,028 | | | | | | | | Weighted average shares outstanding - Diluted | 14,742,040 | | | 14,973,951 | | | 15,132,257 | | | | | | | | Basic EPS | $ | 5.22 | | | $ | 5.39 | | | $ | 5.39 | | Diluted EPS | $ | 5.20 | | | $ | 5.37 | | | $ | 5.35 | |
Stock-based compensation awards representing 7,591, 14,982, and 10,013 common shares for 2020, 2019, and 2018, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.
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