Income Per Share

12 Months Ended

Dec. 31, 2021

Income Per Share

7- Income Per Share

(7) Income Per Share

The following is the computation of basic and diluted income per share:

	Year ended December 31,
	2021		2020		2019
	(In thousands, except per share amounts)
Net Income	$	33,055	$	32,115	$	36,761
Weighted average basic shares outstanding		1,814		1,836		1,855
Add: Effect of dilutive securities		4		5		8
Weighted average diluted shares outstanding		1,818		1,841		1,863
Net Income per share
Basic	$	18.22	$	17.49	$	19.82
Diluted	$	18.18	$	17.44	$	19.73

As required by ASC 260, Earnings per Share, nonvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and, therefore, are included in the computation of basic income per share pursuant to the two-class method.

Incremental shares from stock options and restricted stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. We excluded from the computation of weighted average diluted shares outstanding securities representing two shares of our common stock for each of the years ended December 31, 2021 and December 31, 2019 and six shares of common stock for the year ended December 31, 2020 because their effect would have been anti-dilutive.