Components of Basic and Diluted Earnings Per Share |
The components of basic and diluted earnings per share were as follows for the three- and six-month periods ended June 30, 2022 and 2021: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | (In Thousands, Except Share Data) | 2022 | | 2021 | | Basic | | Diluted | | Basic | | Diluted | Net income (loss) | $ | (10,457) | | | $ | (10,457) | | | $ | 13,750 | | | $ | 13,750 | | Weighted-average common shares outstanding | 25,148,143 | | | 25,148,143 | | | 25,109,048 | | | 25,109,048 | | Add dilutive effect of restricted stock unit awards | — | | | — | | | — | | | 219,700 | | Add dilutive effect of stock options | — | | | — | | | — | | | 88,120 | | Weighted-average common shares outstanding | 25,148,143 | | | 25,148,143 | | | 25,109,048 | | | 25,416,868 | | Earnings (loss) per common share | $ | (0.42) | | | $ | (0.42) | | | $ | 0.55 | | | $ | 0.54 | | Awards excluded from diluted earnings per share calculation(1) | — | | | 392,062 | | | — | | | 515,984 | |
(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | (In Thousands, Except Share Data) | 2022 | | 2021 | | Basic | | Diluted | | Basic | | Diluted | Net income | $ | 17,892 | | | $ | 17,892 | | | $ | 32,452 | | | $ | 32,452 | | Weighted-average common shares outstanding | 25,124,644 | | | 25,124,644 | | | 25,097,545 | | | 25,097,545 | | Add dilutive effect of restricted stock unit awards | — | | | 245,944 | | | — | | | 219,700 | | Add dilutive effect of stock options | — | | | 40,061 | | | — | | | 77,483 | | Weighted-average common shares outstanding | 25,124,644 | | | 25,410,649 | | | 25,097,545 | | | 25,394,728 | | Earnings per common share | $ | 0.71 | | | $ | 0.70 | | | $ | 1.29 | | | $ | 1.28 | | Awards excluded from diluted earnings per share calculation(1) | — | | | 733,940 | | | — | | | 515,984 | | | | | | | | | |
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