NET INCOME PER SHARE Earnings Per Share (Notes)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME PER SHARE

Net income per common share is presented for both basic income per share (“Basic EPS”) and diluted income per share (“Diluted EPS”). Basic EPS is based on the weighted-average number of common shares outstanding during the period. Diluted EPS is based on the weighted-average number of common shares and common share equivalents outstanding during the period.

The potential common shares that were considered anti-dilutive securities were excluded from the diluted earnings per share calculations for the relevant periods either because the sum of the exercise price per share and the unrecognized compensation cost per share was greater than the average market price of our common stock for the relevant periods, or because they were considered contingently issuable. The contingently issuable potential common shares result from certain stock options and restricted stock units granted to our employees that vest based on performance conditions, market conditions, or a combination of performance and market conditions.

The following table sets forth (in thousands) potential common shares that were considered anti-dilutive securities at September 30, 2022 and 2021:

	September 30, 2022	September 30, 2021
Non-vested restricted stock units	820	930

The following table sets forth (in thousands) the basic and diluted weighted common shares outstanding for the three and nine months ended September 30, 2022 and 2021:

	Three months ended		Nine months ended
	September 30		September 30
	2022	2021	2022	2021
Weighted common shares outstanding - basic	44,476	45,564	44,676	45,115
Net effect of common stock equivalents	227	864	431	1,334
Weighted common shares outstanding - diluted	44,703	46,428	45,107	46,449