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Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share.

Earnings Per Share

13. Earnings Per Share

The Company computes earnings per share attributable to MYR Group Inc. using the treasury stock method. Under the treasury stock method, basic earnings per share attributable to MYR Group Inc. are computed by dividing net income available to stockholders by the weighted average number of common shares outstanding during the period, and diluted earnings per share are computed by dividing net income available to stockholders by the weighted average number of common shares outstanding during the period plus all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive.

Net income attributable to MYR Group Inc. and the weighted average number of common shares used to compute basic and diluted earnings per share were as follows:


		Three months ended						Six months ended
		June 30,						June 30,
(in thousands, except per share data)		2020			2019			2020			2019

Numerator:
Net income attributable to MYR Group Inc.		$	13,385		$	7,207		$	23,317		$	14,560

Denominator:
Weighted average common shares outstanding			16,685			16,600			16,656			16,557
Weighted average dilutive securities			80			104			95			125
Weighted average common shares outstanding, diluted			16,765			16,704			16,751			16,682

Income per common share attributable to MYR Group Inc.:
Basic		$	0.80		$	0.43		$	1.40		$	0.88
Diluted		$	0.80		$	0.43		$	1.39		$	0.87

For the three and six months ended June 30, 2020 and 2019, certain common stock equivalents were excluded from the calculation of dilutive securities because their inclusion would either have been anti-dilutive or, for stock options, the exercise prices of those stock options were greater than the average market price of the Company’s common stock for the period. All of the Company’s unvested time-vested stock awards were included in the computation of weighted average dilutive securities.

The following table summarizes the shares of common stock underlying the Company’s unexercised stock options, unvested time-vested stock awards and unvested performance awards that were excluded from the calculation of dilutive securities:


		Three months ended				Six months ended
		June 30,				June 30,
(in thousands)		2020		2019		2020		2019

Time-vested stock awards		44		—		—		—
Performance awards		110		73		110		73