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Earnings per Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Earnings per Share | NOTE 3. EARNINGS PER SHARE The following table reconciles the number of shares used in calculating basic and diluted earnings per share:
|  | Three Months Ended March 31, |
(in thousands) |  | 2021 |  |  | 2020 |
Basic weighted-average shares outstanding |  |  | 67,207 |  |  |  | 67,478 |
Incremental shares due to: |  |  |  |  |  |  |  |
Performance shares |  |  | 326 |  |  |  | — |
Restricted stock units |  |  | 74 |  |  |  | — |
Diluted weighted-average shares outstanding |  |  | 67,607 |  |  |  | 67,478 |
For stock-based awards, the dilutive effect is calculated using the treasury stock method. Under this method, the dilutive effect is computed as if the awards were exercised at the beginning of the period (or at time of issuance, if later) and assumes the related proceeds were used to repurchase common stock at the average market price during the period. Related proceeds include future compensation cost associated with the stock award. For the three months ended March 31, 2021 and 2020, there were approximately 63,000 and 317,000 stock-based awards, respectively, that were excluded from the calculation of diluted earnings per share because they were anti-dilutive. Share Repurchase Program On August 30, 2018, our board of directors authorized management to repurchase up to $100.0 million of common stock with no time limit set for the repurchase (the Repurchase Program). Shares under the Repurchase Program may be repurchased in open market transactions, including pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 (the Trading Plan). The timing, manner, price and amount of repurchases will be determined according to, and subject to, the terms of the Trading Plan, and, subject to the terms of the Trading Plan, the Repurchase Program may be suspended, terminated or modified at any time for any reason. We did not repurchase any shares during the three months ended March 31, 2021. During the three months ended March 31, 2020, we repurchased 400,917 shares of common stock at a total consideration of $12.4 million under the Repurchase Program, all of which were made in open-market transactions. At March 31, 2021, we had remaining authorization of $59.5 million for future stock repurchases under the Repurchase Program. We record share repurchases upon trade date as opposed to the settlement date when cash is disbursed. We record a liability to account for repurchases that have not been cash settled. We retire shares upon repurchase. Any excess repurchase price over par is recorded in accumulated deficit.

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- Definition The entire disclosure for earnings per share. + References 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 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 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 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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