Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2021

Diluted weighted average shares is calculated as basic weighted average shares plus the effect, calculated using the treasury stock method, of assuming that restricted share units and performance share units have vested. The following table provides a reconciliation between the Company's basic weighted average number of common shares outstanding to its diluted weighted average number of common shares outstanding:


(In thousands, except per share data)	Three Months Ended September 30				Nine Months Ended September 30
	2021		2020		2021		2020
Weighted average number of common shares outstanding, basic	53,982		53,889		53,955		53,854
Dilutive effect of securities:
Restricted Share Units	92		29		84		41
Performance Share Units	4		—		3		1


Weighted average number of common shares outstanding, diluted	54,078		53,918		54,042		53,896
Effect of dilutive shares on earnings (loss) per share	$	—	$	—	$	(0.01)	$	—

The diluted weighted average number of common shares outstanding for the three and nine months ended September 30, 2021 excludes approximately 37,000 and 25,000, respectively, of common share equivalents issuable under the Company's stock compensation plans, as compared to approximately 177,000 and 119,000 during the same respective periods of 2020, as their effect would have been antidilutive.

Dilutive common share equivalents are reflected in the earnings (loss) per share calculation while antidilutive common share equivalents are not reflected in the earnings (loss) per share calculation. For the three and nine months ended September 30, 2020, all incremental common share equivalents were not included in the computation of diluted earnings (loss) per share because to do so would have been antidilutive.