Earnings per Common Share

12 Months Ended

Dec. 31, 2022

Basic earnings per share is calculated by dividing net income available for common stockholders by the weighted-average number of shares of common stock outstanding during the year. Diluted earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding adjusted to include the potentially dilutive effect of outstanding stock options, performance shares, restricted shares and Preferred Stock.

The following table provides details of the calculations of basic and diluted earnings per common share (share and per share amounts not in thousands):


	Year Ended December 31,
	2022		2021		2020
Loss from continuing operations attributable to common stockholders	$	(27,377)	$	(49,769)	$	(38,069)
Income from discontinued operations	12,458		116,183		38,624
Net income (loss) available for common stockholders	$	(14,919)	$	66,414	$	555

Shares used in determining basic earnings per common share	63,910,010		63,645,245		63,241,197
Dilutive effect of:
Stock options	—		—		—
Performance and restricted shares	—		—		—
Shares used in determining diluted earnings per common share	63,910,010		63,645,245		63,241,197

Basic earnings per common share
Loss from continuing operations	$	(0.42)	$	(0.78)	$	(0.60)
Income from discontinued operations	0.19		1.83		0.61
Net income (loss)	$	(0.23)	$	1.05	$	0.01

Diluted earnings per common share
Loss from continuing operations	$	(0.42)	$	(0.78)	$	(0.60)
Income from discontinued operations	0.19		1.83		0.61
Net income (loss)	$	(0.23)	$	1.05	$	0.01

Anti-dilutive instruments excluded from the computation of diluted earnings per share were as follows:


	Year Ended December 31,
	2022	2021	2020
Stock options	77,767	111,124	152,281
Performance and restricted shares	3,654,506	2,387,272	2,650,357

Total	3,732,273	2,498,396	2,802,638