Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share from Continuing Operations

The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share data).

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Income from continuing operations	$	21,695	$	20,096	$	80,524	$	78,437
Denominator:
Basic
Weighted average common shares outstanding	52,425		54,403		52,885		54,372
Diluted
Stock options (1)	609		738		692		825
Restricted stock units and awards (1)	155		135		182		192
Contingent shares (2)	37		84		37		84
Diluted weighted average common shares    outstanding (3)	53,226		55,360		53,796		55,473
Basic earnings per share from continuing operations	$	0.41	$	0.37	$	1.52	$	1.44
Diluted earnings per share from continuing operations	$	0.41	$	0.36	$	1.50	$	1.41

(1)A total of 44 thousand and 106 thousand shares of stock-based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2021, respectively, and a total of 274 thousand and 240 thousand shares of stock-based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2020, respectively, as their effect would be 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 considerations have been met. Refer to Note 11, Business Combinations, for further details.

(3)The denominator used in calculating diluted earnings per share did not include 447 thousand performance share units for both the three and nine months ended September 30, 2021, and the denominator used in calculating diluted earnings per share did not include 324 thousand performance share units for both the three and nine months ended September 30, 2020. 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 three and nine months ended September 30, 2021 and 2020.