Earnings Per Share

3 Months Ended

Mar. 31, 2022

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 months ended March 31, 2022 and 2021, 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
	March 31,
	2022		2021
Earnings (numerator)
Net income attributable to common stockholders	$	72,691	$	39,452

Shares (denominator)
Weighted average common shares outstanding (basic)		45,104		44,408
Dilutive effect of stock options and stock awards outstanding		740		835
Adjusted weighted average common shares outstanding (diluted)		45,844		45,243

Earnings per share attributable to common stockholders
Basic	$	1.61	$	0.89
Diluted	$	1.59	$	0.87

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		1		-