Earnings Per Share

12 Months Ended

Dec. 31, 2021

Note M – Earnings Per Share

Net income (loss) was used as the numerator in computing both basic and diluted income per Common share for each of the three years ended December 31, 2021. The following table reconciles the weighted-average shares outstanding used for these computations.


(Weighted-average shares)	2021	2020	2019
Basic method	154,290,741	153,507,109	163,992,427
Dilutive stock options 1	—	—	820,001
Diluted method	154,290,741	153,507,109	164,812,428

1 Due to a net loss recognized by the Company for the year ended December 31, 2021 and 2020, no unvested stock awards were included in the computation of diluted earnings per share because the effect would have been antidilutive.

The following table reflects certain options to purchase shares of common stock that were outstanding during the three years ended December 31, 2021 but were not included in the computation of dilutive earnings per share because the incremental shares from the assumed conversion were antidilutive.


	2021	2020	2019
Antidilutive stock options excluded from diluted shares	1,420,992	2,246,532	2,947,401
Weighted average price of these options	$35.30	$39.67	$45.26