Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported with the unaudited condensed consolidated balance sheet that totals to the amounts shown in the unaudited condensed consolidated statements of cash flow (in thousands):


	June 30,
	2019

Cash and cash equivalents	$	127,670
Restricted cash	4,876
Total cash, cash equivalents and restricted cash shown in the
unaudited condensed consolidated statements of cash flow	$	132,546

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the calculation of basic and diluted earnings per share is as follows (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,

	2019		2018		2019		2018
Earnings per share — numerator:
Net earnings	$	6	$	3,620	$	4,914	$	4,758

Denominator:
Basic weighted average number of shares outstanding	4,227		4,218		4,223		4,218

Basic earnings per share	$	—	$	0.86	$	1.16	$	1.13

Diluted earnings per share:
Diluted weighted average number of shares outstanding:
Common shares	4,227		4,218		4,223		4,218
Restricted stock unit awards	—		—		6		—
Performance share unit awards⁽¹⁾	—		—		—		—
Total	4,227		4,218		4,229		4,218

Diluted earnings per share	$	—	$	0.86	$	1.16	$	1.13

_______________

(1) The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. The performance conditions for the performance share unit awards granted in 2018 were achieved as of December 31, 2018. For the three and six months ended June 30, 2019, the effect of the performance share awards on earning per share is anti-dilutive.

Schedule of Common Stock Outstanding

The following table reconciles our outstanding common stock for the periods indicated:


						Common
						shares

Balance, January 1, 2019						4,217,596
Vesting of restricted stock unit awards						375
Balance, March 31, 2019						4,217,971
Issuance of shares in acquisition (see Note 6)						11,145
Vesting of restricted stock unit awards (see Note 11)						5,354
Shares withheld to cover taxes upon vesting of restricted stock unit awards						(883)
Balance, June 30, 2019						4,233,587