Earnings per Share

3 Months Ended

Mar. 31, 2021

8.	Earnings per Share

The computational components of basic and diluted earnings per share for the three-months ended March 31, are below.

(table only in thousands)	2021		2020
Numerator (for basic and diluted earnings per share)
Net income attributable to CECO Environmental Corp.	$	1,181	$	3,412

Denominator
Basic weighted-average shares outstanding		35,397		35,155
Common stock equivalents arising from stock options and restricted stock awards		377		240
Diluted weighted-average shares outstanding		35,774		35,395

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-months ended March 31, 2021 and 2020, 1.5 million and 0.4 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.