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EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

NOTE 5. EARNINGS PER SHARE

Basic earnings per share ("EPS") is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of our diluted EPS is similar to the computation of our basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the if-converted and treasury stock methods), if our outstanding stock options and restricted stock units had been converted to common shares, and if such assumed conversion is dilutive.

The following is a reconciliation of the weighted-average shares outstanding used in the calculation of basic and diluted earnings per share:


	Three Months Ended March 31,
	2021		2020
Income from continuing operations	$	38,391	$	18,398
Income from continuing operations attributable to noncontrolling interest		33		15
Income from continuing operations attributable to Advanced Energy Industries, Inc.	$	38,358	$	18,383

Basic weighted-average common shares outstanding		38,328		38,358
Assumed exercise of dilutive stock options and restricted stock units		255		212
Diluted weighted-average common shares outstanding		38,583		38,570

Continuing operations:
Basic earnings per share	$	1.00	$	0.48
Diluted earnings per share	$	0.99	$	0.48

The following stock options and restricted units were excluded in the computation of diluted earnings per share because they were anti-dilutive:


	Three Months Ended March 31,
	2021	2020
Restricted stock units	31	—

Share Repurchase

To execute the repurchase of shares of our common stock, the Company periodically enters into stock repurchase agreements. The following table summarizes these repurchases:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2021		2020
Amount paid to repurchase shares	$	—	$	7,248
Number of shares repurchased		—		170
Average repurchase price per share	$	—	$	42.59
Remaining authorized by Board of Directors for future repurchases as of period end	$	38,369	$	42,751

There were no shares repurchased from related parties. All shares repurchased were recognized as a reduction to Additional paid-in capital. Repurchased shares were retired and assumed the status of authorized and unissued shares.