Earnings Per Share

12 Months Ended

Dec. 31, 2020

EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share from continuing operations for the years ended December 31, 2020, 2019 and 2018 (in thousands, except per share data):


	Year Ended December 31,
	2020		2019		2018
Numerator:
Income from continuing operations	$	78,347	$	71,049	$	61,573
Denominator:
Basic
Weighted average common shares outstanding	54,288		54,299		54,561
Diluted
Stock options (1)	802		1,288		1,542
Restricted stock awards	195		234		302
Contingent shares (2)	74		74		82
Diluted weighted average common shares outstanding (3)	55,359		55,895		56,487
Earnings Per Share:
Basic earnings per share from continuing operations	$	1.44	$	1.31	$	1.13
Diluted earnings per share from continuing operations	$	1.42	$	1.27	$	1.09

(1)For the years ended December 31, 2020, 2019 and 2018, a total of 0.3 million, 0.5 million and 0.4 million stock based awards, respectively, were excluded from the calculation of diluted earnings per share as their exercise prices would render them anti-dilutive.

(2)Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future conditions have been met. For further details, refer to Note 18, Business Combinations.

(3)The denominator used in calculating diluted earnings per share did not include 0.3 million and 0.2 million performance share units for the twelve months ended December 31, 2020 and 2019, respectively. The performance conditions associated with these performance share units were not met and consequently none of these performance share units were considered as issuable for the years ended December 31, 2020 and 2019.