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Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Text Block [Abstract]  
Earnings Per Share
3. EARNINGS PER SHARE

The following table presents the calculation of our basic and diluted earnings per share for the years ended December 31:
 
For the Year Ended December 31,
 
2019
 
2018
 
2017
(in thousands, except shares and per share data)
 
 
 
 
 
Calculation of Basic Earnings Per Share:
 
 
 
 
 
Income from Continuing Operations
$
61,142

 
$
56,862

 
$
60,326

Income/(Loss) from Discontinued Operations
4,011

 
(282
)
 
(2,202
)
Net Income
$
65,153

 
$
56,580

 
$
58,124

 
 
 
 
 
 
Weighted average shares outstanding
16,398,443

 
16,369,616

 
16,336,789

Earnings Per Share from Continuing Operations
$
3.73

 
$
3.48

 
$
3.69

Earnings/(Loss) Per Share from Discontinued Operations
0.24

 
(0.02
)
 
(0.13
)
Basic Earnings Per Share
$
3.97

 
$
3.46

 
$
3.56

 
 
 
 
 
 
Calculation of Diluted Earnings Per Share:
 
 
 
 
 
Reconciliation of Denominator:
 
 
 
 
 
Weighted average shares outstanding — Basic
16,398,443

 
16,369,616

 
16,336,789

Effect of dilutive securities — Share-based compensation
50,043

 
50,254

 
46,563

Adjusted denominator — Diluted
16,448,486

 
16,419,870

 
16,383,352

Earnings Per Share from Continuing Operations
$
3.72

 
$
3.47

 
$
3.68

Earnings/(Loss) Per Share from Discontinued Operations
0.24

 
(0.02
)
 
(0.13
)
Diluted Earnings Per Share
$
3.96

 
$
3.45

 
$
3.55