Earnings Per Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Earnings (numerator)
Net income attributable to common stockholders	$	80,155	$	55,374	$	152,846	$	94,826

Shares (denominator)
Weighted average common shares outstanding (basic)		45,265		44,667		45,185		44,538
Dilutive effect of stock options and stock awards outstanding		576		713		728		789
Adjusted weighted average common shares outstanding (diluted)		45,841		45,380		45,913		45,327

Earnings per share attributable to common stockholders
Basic	$	1.77	$	1.24	$	3.38	$	2.13
Diluted	$	1.75	$	1.22	$	3.33	$	2.09

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		175		6		76		3