Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2024

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 March 31
		2024		2023
Weighted average number of common shares outstanding, basic		51,013		53,987
Dilutive effect of securities:
Restricted Share Units		112		103
Performance Share Units		24		27


Weighted average number of common shares outstanding, diluted		51,149		54,117
Effect of dilutive shares on earnings (loss) per share		$	—	$	—

The diluted weighted average number of common shares outstanding for the three months ended March 31, 2024 excluded approximately 251,000 of common share equivalents issuable under the Company's stock compensation plans as their effect would have been antidilutive. There were no antidilutive common share equivalents for the three months ended March 31, 2023.

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 months ended March 31, 2023, all incremental common share equivalents were not included in the computation of diluted loss per share because to do so would have been antidilutive.