Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2023

Basic earnings (loss) per share is computed in accordance with ASC 260, Earnings Per Share, based on weighted average outstanding common shares. Diluted earnings (loss) 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):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Weighted average shares outstanding:
Basic weighted average shares outstanding	108,455	114,669	108,306	114,976
Add: Dilutive effect of stock options and RSUs	—	536	—	673
Diluted weighted average shares outstanding	108,455	115,205	108,306	115,649

The diluted earnings (loss) per share computation excludes 3.7 million and 2.2 million options to purchase shares, RSUs, and contingently issuable shares during the three months ended June 30, 2023 and 2022, respectively, as their effect would be anti-dilutive. The diluted earnings (loss) per share computation excludes 3.1 million and 2.0 million options to purchase shares, RSUs, and contingently issuable shares during the six months ended June 30, 2023 and 2022, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of June 30, 2023, and December 31, 2022, was 108,595,441 and 108,068,828, respectively.