Earnings Per Share

9 Months Ended

Sep. 30, 2023

EARNINGS PER SHARE

Basic earnings or loss per share are computed using NW Holdings' net income or loss and the weighted average number of common shares outstanding for each period presented. Diluted earnings per share are computed in the same manner, except using the weighted average number of common shares outstanding plus the effects of the assumed exercise of stock options and the payment of estimated stock awards from other stock-based compensation plans that are outstanding at the end of each period presented. Anti-dilutive stock awards are excluded from the calculation of diluted earnings or loss per common share.

NW Holdings' diluted earnings or loss per share are calculated as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
In thousands, except per share data	2023		2022		2023		2022


Net income (loss)	$	(23,687)	$	(19,587)	$	49,228	$	38,367
Average common shares outstanding - basic	36,214		34,939		35,950		33,491
Additional shares for stock-based compensation plans (See Note 8)	—		—		30		48
Average common shares outstanding - diluted	36,214		34,939		35,980		33,539






Earnings (loss) per share of common stock:
Basic	$	(0.65)	$	(0.56)	$	1.37	$	1.15
Diluted	$	(0.65)	$	(0.56)	$	1.37	$	1.14
Additional information:
Anti-dilutive shares	45		85		1		—