Earnings Per Share

12 Months Ended

Dec. 31, 2022

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, 2022. The following table reconciles the weighted-average shares outstanding used for these computations.


(Weighted-average shares)	2022	2021	2020
Basic method	155,276,533	154,290,741	153,507,109
Dilutive stock options and restricted stock units ¹	2,198,305	—	—
Diluted method	157,474,838	154,290,741	153,507,109

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, 2022 but were not included in the computation of dilutive earnings per share because the incremental shares from the assumed conversion were antidilutive.


	2022	2021	2020
Antidilutive stock options excluded from diluted shares	126,000	1,420,992	2,246,532
Weighted average price of these options	$49.65	$35.30	$39.67