Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share amounts):

	Year Ended December 31,
	2020(1)		2019(2)		2018(3)
Numerators:
Consolidated net income	$	44,521	$	40,773	$	51,095
Less: Net income attributable to noncontrolling interest		—		—		(1,986	)
Net income attributable to Novanta Inc.		44,521		40,773		49,109
Redeemable noncontrolling interest redemption value adjustment		—		—		1,781
Net income attributable to Novanta Inc. after adjustment for redeemable noncontrolling interest redemption value	$	44,521	$	40,773	$	50,890
Denominators:
Weighted average common shares outstanding— basic		35,144		35,030		34,913
Dilutive potential common shares		510		516		560
Weighted average common shares outstanding— diluted		35,654		35,546		35,473
Antidilutive potential common shares excluded from above		13		41		4
Earnings per Common Share Attributable to Novanta Inc.:
Basic	$	1.27	$	1.16	$	1.46
Diluted	$	1.25	$	1.15	$	1.43

(1) For the year ended December 31, 2020, 45 non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020.

(2) For the year ended December 31, 2019, 46 non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.

(3) For the year ended December 31, 2018, 54 non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2018.