Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The Company’s non-vested restricted stock that was granted prior to March 2015 is considered a participating security since the share-based awards contain a non-forfeitable right to dividends irrespective of whether the awards ultimately vest. Unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. Subsequent to the 2015 awards, the unvested share-based payment awards no longer included non-forfeitable rights to dividends. As the final awards with the non-forfeitable rights fully vested in 2017 the two-class method is no longer used by the Company.

The computation of basic and diluted earnings per share is as follows:

(in thousands except per common share data)	Year ended December 31,
	2019		2018		2017
Net income attributable to The Andersons, Inc.	$	18,307	$	41,484	$	42,511
Less: Distributed and undistributed earnings allocated to non-vested restricted stock	—		—		1
Earnings available to common shareholders	$	18,307	$	41,484	$	42,510
Earnings per share – basic:
Weighted average shares outstanding – basic	32,570		28,258		28,126
Earnings (losses) per common share – basic	$	0.56	$	1.47	$	1.51
Earnings per share – diluted:
Weighted average shares outstanding – basic	32,570		28,258		28,126
Effect of dilutive awards	526		194		170
Weighted average shares outstanding – diluted	33,096		28,452		28,296
Earnings per common share – diluted	$	0.55	$	1.46	$	1.50

There were 88 thousand, 13 thousand and 22 thousand antidilutive share-based awards outstanding at December 31, 2019, December 31, 2018 and December 31, 2017, respectively.