Common and Common Equivalent Shares

9 Months Ended

Sep. 30, 2021

8. Common and Common Equivalent Shares:

Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the period. Potential common shares consist of outstanding restricted stock and stock options and is calculated using the treasury stock method.

The calculation of shares used in the basic and diluted net income per common share calculation for the three and nine months ended September 30, 2021 and 2020 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Weighted average number of common shares outstanding		85,065		83,862		84,754		83,260
Weighted average number of dilutive common share equivalents (a)		1,031		—		1,005		—
Weighted average number of common and common equivalent shares outstanding		86,096		83,862		85,759		83,260
Antidilutive securities not included in the diluted net income per common share calculation		1		829		10		1,004

(a) Due to a loss from continuing operations for the three and nine months ended September 30, 2020, no incremental shares are included because the effect would be antidilutive.