Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Computation of Basic and Diluted Earnings per Common Share

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

	Year Ended December 31,
	2021⁽¹⁾		2020⁽²⁾		2019⁽³⁾
Numerators:
Consolidated net income	$	50,331	$	44,521	$	40,773

Denominators:
Weighted average common shares outstanding— basic		35,396		35,144		35,030
Dilutive potential common shares		385		510		516
Weighted average common shares outstanding— diluted		35,781		35,654		35,546
Antidilutive potential common shares excluded from above		13		13		41

Earnings per Common Share:
Basic	$	1.42	$	1.27	$	1.16
Diluted	$	1.41	$	1.25	$	1.15

⁽¹⁾

For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021.

⁽²⁾

For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020.

⁽³⁾

For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.