Capital Stock

12 Months Ended

Dec. 31, 2020

The authorized capital stock of the Company consists of 150,000,000 shares of common stock and 4,000,000 shares of preferred stock, both having a par value of $1.25 per share. The preferred stock is issuable in series with terms as fixed by the Board of Directors (the "Board"). No preferred stock has been issued. The following table summarizes the Company's common stock:



	Shares Issued	Treasury Shares (a)	Outstanding Shares
Outstanding, January 1, 2018	112,888,126	32,434,274	80,453,852

Shares issued for vested restricted stock units	545,908	161,774	384,134
Stock appreciation rights exercised	39,917	11,808	28,109

Treasury shares purchased	—	1,321,072	(1,321,072)
Outstanding, December 31, 2018	113,473,951	33,928,928	79,545,023

Shares issued for vested restricted stock units	321,965	125,863	196,102
Shares issued for vested performance stock units	908,566	379,353	529,213
Stock appreciation rights exercised	15,865	4,619	11,246

Treasury shares purchased	—	1,766,826	(1,766,826)
Outstanding, December 31, 2019	114,720,347	36,205,589	78,514,758

Shares issued for vested restricted stock units	229,413	91,188	138,225
Shares issued for vested performance stock units	471,412	206,261	265,151
Stock appreciation rights exercised	8,870	2,634	6,236

Outstanding, December 31, 2020	115,430,042	36,505,672	78,924,370

(a) The Company repurchases shares in connection with the issuance of shares under stock-based compensation programs and in accordance with Board authorized share repurchase programs.

The following is a reconciliation of the average shares of common stock used to compute basic earnings per common share to the shares used to compute diluted earnings per common share as shown on the Consolidated Statements of Operations:


(In thousands, except per share data)	2020		2019		2018
Income (loss) from continuing operations attributable to Harsco Corporation common stockholders	$	(32,526)	$	28,231	$	100,578

Weighted-average shares outstanding—basic	78,939		79,632		80,716
Dilutive effect of stock-based compensation	—		1,743		2,879
Weighted-average shares outstanding—diluted	78,939		81,375		83,595
Income (loss) from continuing operations per common share, attributable to Harsco Corporation common stockholders:
Basic	$	(0.41)	$	0.35	$	1.25

Diluted	$	(0.41)	$	0.35	$	1.20

The following average outstanding stock-based compensation units were not included in the computation of diluted earnings per share because the effect was antidilutive:


(In thousands)	2020	2019	2018
Restricted stock units	714	—	—

Stock appreciation rights	2,474	491	306
Performance share units	887	124	—