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Earnings Per Share
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3. Earnings Per Share

Basic and diluted earnings per share are computed based on the weighted average number of shares outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur upon the exercise of stock options or upon the vesting of restricted stock grants, any of which would result in the issuance of common stock that would then share in the net income of the Company.

 

 

 

Three Months Ended

March 31,

 

 

 

2021

 

 

2020

 

Basic earnings (loss) per share:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

39,427

 

 

$

(7,602

)

Weighted-average basic shares outstanding

 

 

42,673,615

 

 

 

40,334,179

 

Basic earnings (loss) per share

 

$

0.92

 

 

$

(0.19

)

Diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

Net income (loss), for diluted earnings (loss) per share

 

$

39,427

 

 

$

(7,602

)

Total weighted-average basic shares outstanding

 

 

42,673,615

 

 

 

40,334,179

 

Add effect of dilutive stock options and restricted stock grants

 

 

2,023,235

 

 

 

739,870

 

Total weighted-average diluted shares outstanding

 

 

44,696,850

 

 

 

41,074,049

 

Diluted earnings (loss) per share

 

$

0.88

 

 

$

(0.19

)

Anti-dilutive shares

 

 

 

 

 

1,839,601

 

 

On April 6, 2021, 178 thousand restricted stock unit awards with market price conditions vested as the Company's share price satisfied applicable target price criteria.  After net settlement for related tax withholding, the Company issued approximately 99 thousand shares.