Common and Common Equivalent Shares

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Common and Common Equivalent Shares

8. Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted stock, deferred stock and stock options and is calculated using the treasury stock method.

The calculation of shares used in the basic and diluted net income per common share calculation for the three and nine months ended September 30, 2020 and 2019 is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Weighted average number of common shares outstanding		83,862		82,441		83,260		83,846
Weighted average number of dilutive common share equivalents		—		442		—		456
Weighted average number of common and common equivalent shares outstanding (a)		83,862		82,883		83,260		84,302
Antidilutive securities not included in the diluted net income per common share calculation		829		962		1,004		796

(a) Due to a loss from continuing operations for the three months and nine months ended September 30, 2020, no incremental shares are included because the effect would be antidilutive.