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EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 6.           EARNINGS PER SHARE

We compute basic earnings per share ("EPS") by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The diluted EPS computation is similar to basic EPS except we increase the denominator 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 (when such 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:

​

​	​	​	​	​	​	​	​	​
​	Years Ended December 31,
​	2021			2020			2019
Income from continuing operations	$	134,707	​	$	135,151	​	$	56,495
Less: income from continuing operations attributable to noncontrolling interest		44	​		55	​		34
Income from continuing operations attributable to Advanced Energy Industries, Inc.	$	134,663	​	$	135,096	​	$	56,461
​	​	​	​	​	​	​	​	​
Basic weighted-average common shares outstanding		38,143	​		38,314	​		38,281
Assumed exercise of dilutive stock options and restricted stock units		212	​		228	​		214
Diluted weighted-average common shares outstanding		38,355	​		38,542	​		38,495
​	​	​	​	​	​	​	​	​
Continuing operations:			​			​
Basic earnings per share	$	3.53	​	$	3.53	​	$	1.47
Diluted earnings per share	$	3.51	​	$	3.51	​	$	1.47

​

Share Repurchase

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

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
(in thousands, except per share amounts)		2021			2020
Amount paid to repurchase shares	​	$	78,125	​	$	11,630
Number of shares repurchased	​		901	​		244
Average repurchase price per share	​	$	86.76	​	$	47.75
Remaining authorized by Board of Directors for future repurchases as of period end	​	$	128,377	​	$	38,369

​

There were no shares repurchased from related parties. Repurchased shares were retired and assumed the status of authorized and unissued shares. On July 29, 2021, the Board of Directors approved an increase to the share repurchase program, which authorized the Company to repurchase up to $200 million in shares of our common stock with no time limitation.

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The entire disclosure for earnings per share.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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