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Earnings Per Share
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

Note 10. Earnings per Share

Per share data is determined by using the weighted average number of common shares outstanding. Common equivalent shares are considered only for diluted earnings per share, unless considered anti-dilutive. Common equivalent shares, determined using the treasury stock method, result from stock options with exercise prices that are below the average market price of the common stock.

Basic earnings per share include no dilution and are computed by dividing income available to common shareholders by the weighted-average number of shares outstanding during the period. Diluted earnings per share reflect the potential of securities that could share in our earnings.

A reconciliation of the weighted average number of common shares outstanding (in thousands) for the years ended December 31 is as follows:

 

 

2019

 

 

2018

 

Common shares outstanding, beginning of the year

 

12,408

 

 

 

11,886

 

Weighted average common shares issued

 

34

 

 

 

246

 

Weighted average number of common shares outstanding

 

12,442

 

 

 

12,132

 

Dilutive effect of stock options and RSUs (1)

 

-

 

 

 

449

 

Diluted weighted average number of common shares outstanding

 

12,442

 

 

 

12,581

 

 

 

(1)

Stock options and RSUs are excluded for periods presented in which the Company has a net loss because the effects are anti-dilutive.

 

Common stock equivalents (in thousands) that have been excluded from the calculation of earnings per share as of December 31 because they would have been anti-dilutive are as follows:

 

 

2019

 

 

2018

 

Stock options

 

398

 

 

 

252

 

None of our RSUs met vesting conditions during 2019.