Earnings Per Share

12 Months Ended

Dec. 31, 2022

Basic earnings per share is computed in accordance with ASC 260, Earnings per Share, based on weighted average outstanding common shares. Diluted earnings per share is computed based on basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, RSUs, and certain contingently issuable shares for which performance targets have been achieved.

The following table reconciles the weighted average share amounts used to compute both basic and diluted earnings per share (in thousands):


	Years Ended December 31,
	2022	2021	2020
Weighted average shares outstanding:
Basic weighted average shares outstanding	113,700	117,407	116,397
Add: Dilutive effect of stock options, RSUs, and contingently issuable shares	538	1,240	1,682
Diluted weighted average shares outstanding	114,238	118,647	118,079

The diluted earnings per share computation excludes 1.9 million, 1.3 million, and 1.5 million options to purchase shares, RSUs, and contingently issuable shares during the years ended December 31, 2022, 2021, and 2020, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of December 31, 2022 and 2021, was 108,068,828 and 115,730,046, respectively.