Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

NOTE 8. — EARNINGS PER COMMON SHARE

Basic and diluted earnings per common share gives effect, utilizing the two-class method, to the potential dilution from the issuance of shares of our common stock in settlement of RSUs which provide for non-forfeitable dividend equivalents equal to the dividends declared per common share. Basic and diluted earnings per common share is computed by dividing net earnings less dividend equivalents attributable to RSUs by the weighted average number of common shares outstanding during the period.

The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted earnings per common share using the two-class method (in thousands except per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Net earnings	$	10,973		$	13,198		$	23,673		$	24,125
Less earnings attributable to RSUs outstanding		(318	)		(246	)		(635	)		(491	)
Net earnings attributable to common stockholders used in basic and diluted earnings per share calculation		10,655			12,952			23,038			23,634
Weighted average common shares outstanding:
Basic		41,456			41,024			41,420			40,949
Incremental shares from stock-based compensation		11			25			25			19
Diluted		41,467			41,049			41,445			40,968
Basic earnings per common share	$	0.26		$	0.32		$	0.56		$	0.58
Diluted earnings per common share	$	0.26		$	0.32		$	0.56		$	0.58