Earnings Per Share

6 Months Ended

Jun. 30, 2021

Note 5 – Earnings Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income attributable to our Company’s common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated by dividing the net income attributable to our Company’s common stockholders by the weighted average number of common and common equivalent shares outstanding during the period and is calculated using the treasury stock method for equity-based compensation awards.

The following table sets forth the computation of basic and diluted EPS and a reconciliation of the weighted average number of common and common equivalent shares outstanding:



	Quarter Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands, except share data)	2021		2020		2021		2020
Numerator:
Net income (loss) attributable to RDI common stockholders	$	22,702		(22,702)	$	41,667	$	(28,577)
Denominator:
Weighted average number of common stock – basic		21,808,556		21,742,667		21,784,700		21,749,356
Weighted average dilutive impact of awards		671,612		—		672,219		—
Weighted average number of common stock – diluted		22,480,168		21,742,667		22,456,919		21,749,356
Basic earnings (loss) per share attributable to RDI common stockholders	$	1.04		(1.04)	$	1.91	$	(1.31)
Diluted earnings (loss) per share attributable to RDI common stockholders	$	1.01		(1.04)	$	1.86	$	(1.31)
Awards excluded from diluted earnings (loss) per share		492,344		678,377		492,344		703,377

Our weighted average number of common stock - basic increased, primarily as a result of the vesting of restricted stock units. During the first six months of 2021, we did not repurchase any shares of Class A Common Stock.

Certain shares issuable under stock options and restricted stock units were excluded from the computation of diluted net income (loss) per share in periods when their effect was anti-dilutive; either because our Company incurred a net loss for the period, or the exercise price of the options was greater than the average market price of the common stock during the period, or the effect was anti-dilutive as a result of applying the treasury stock method.