Earnings Per Share

12 Months Ended

Dec. 31, 2020

Note 12 — Earnings Per Share

Basic earnings per share are computed by dividing net income by the weighted average number of shares of Common Stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential shares of Common Stock outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents. The following table illustrates earnings per share and the weighted average shares outstanding used in calculating basic and diluted earnings per share:

	Year Ended December 31,
	2020		2019		2018
Net income	$	59,690	$	48,866	$	41,899

Basic weighted average shares of Common Stock outstanding		32,666,025		33,120,076		35,920,782
Dilutive effect of stock options, restricted stock awards and restricted stock units		362,079		177,513		256,362
Diluted weighted average shares of Common Stock outstanding		33,028,104		33,297,589		36,177,144

Basic earnings per share	$	1.83	$	1.48	$	1.17
Diluted earnings per share	$	1.81	$	1.47	$	1.16

The following table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.

	Year Ended December 31,
	2020		2019		2018
Anti-dilutive securities share impact		12,000		214,000		898,250

See Note 17 for information about the Company’s different equity incentive plans.