Earnings Per Share

9 Months Ended

Sep. 30, 2021

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the three and nine months ended September 30, 2021 and 2020, we paid no dividends on our Common Stock.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Earnings (numerator)
Net income attributable to common stockholders	$	68,424	$	27,152	$	163,250	$	68,353

Shares (denominator)
Weighted average common shares outstanding (basic)		44,986		51,825		44,689		51,563
Dilutive effect of stock options and stock awards outstanding		656		904		818		1,049
Adjusted weighted average common shares outstanding (diluted)		45,642		52,729		45,507		52,612

Earnings per share attributable to common stockholders
Basic	$	1.52	$	0.52	$	3.65	$	1.33
Diluted	$	1.50	$	0.51	$	3.59	$	1.30

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		-		-		-		3