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Earnings per Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Earnings per Share | Earnings (Loss) per Share Basic and diluted earnings (loss) per share are computed pursuant to the two-class method. Under this method, the Company attributes net income (loss) to two classes: common stock and unvested restricted stock. Unvested restricted stock awards granted to employees under the Company’s Long-Term Incentive Plan are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. Diluted net income per share is calculated using the more dilutive of the two methods. Under both methods, the exercise of employee stock options is assumed using the treasury stock method. The assumption of vesting of restricted stock, however, differs: 1.Assume vesting of restricted stock using the treasury stock method. 2.Assume unvested restricted stock awards are not vested, and allocate earnings to common shares and unvested restricted stock awards using the two-class method. For the three months ended March 31, 2021, the second method was used because it was more dilutive than the first method. The following table sets forth the computation of net income (loss) per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands):
| Three Months Ended March 31, |  |
| 2021 |  | 2020 |  |  |  |
Basic: |  |  |  |  |  |  |
Net income (loss) | $ | 6,869 |  |  | $ | (33,009) |  |  |  |  |
Less income allocated to participating securities | (103) |  |  | (236) |  |  |  |  |
Net income (loss) attributable to common stock | $ | 6,766 |  |  | $ | (33,245) |  |  |  |  |
Earnings (loss) per share, basic | $ | 0.42 |  |  | $ | (2.08) |  |  |  |  |
Weighted-average shares outstanding | 16,167 |  |  | 15,952 |  |  |  |  |
Diluted: |  |  |  |  |  |  |
Net income (loss) | $ | 6,869 |  |  | $ | (33,009) |  |  |  |  |
Less income allocated to participating securities | (103) |  |  | (236) |  |  |  |  |
Net income (loss) attributable to common stock | $ | 6,766 |  |  | $ | (33,245) |  |  |  |  |
Earnings (loss) per share, diluted | $ | 0.42 |  |  | $ | (2.08) |  |  |  |  |
Weighted-average shares outstanding(1) | 16,167 |  |  | 15,952 |  |  |  |  |
(1) Dilutive effect of common stock equivalents excluded from the diluted per share calculation is not material.

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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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