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Note 4 - Earnings Per Share
 6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

4 – Earnings Per Share

 

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

 

  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
  

2021

  

2020

  

2021

  

2020

 

Numerator:

                

Numerator for basic and diluted earnings per share – Net income available to common shareholders

 $58,044  $16,816  $103,377  $39,923 

Denominator:

                

Denominator for basic earnings per share – weighted average shares outstanding

  56,009   54,436   55,819   54,581 

Effect of dilutive securities – Employee stock options and restricted stock awards

  1,947   915   2,027   1,089 

Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions

  57,956   55,351   57,846   55,670 

Basic earnings per common share

 $1.04  $0.31  $1.85  $0.73 

Diluted earnings per common share and common share equivalents

 $1.00  $0.30  $1.79  $0.72 

 

Options to purchase shares of common stock that were outstanding for the three months and six months ended June 30, 2021, and 2020, which were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

 

  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
  

2021

  

2020

  

2021

  

2020

 

Weighted average anti-dilutive stock options

  626   2,506   379   2,149