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Earnings Per Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings per Share | Note 8 –Earnings Per Share Basic earnings per share are computed by dividing net income by the weighted average number of shares of Common Stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential shares of Common Stock outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents. The following table illustrates earnings per share and the weighted average shares outstanding used in calculating basic and diluted earnings per share:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net income |  | $ | 15,686 |  |  | $ | 24,146 |  |  | $ | 73,386 |  |  | $ | 25,697 |
Basic weighted average shares of Common Stock outstanding |  |  | 33,177,743 |  |  |  | 32,623,532 |  |  |  | 33,075,399 |  |  |  | 32,631,423 |
Dilutive effect of stock options, restricted stock awards and restricted stock units |  |  | 431,341 |  |  |  | 334,907 |  |  |  | 413,501 |  |  |  | 292,590 |
Diluted weighted average shares of Common Stock outstanding |  |  | 33,609,084 |  |  |  | 32,958,439 |  |  |  | 33,488,900 |  |  |  | 32,924,013 |
Basic earnings per share |  | $ | 0.47 |  |  | $ | 0.74 |  |  | $ | 2.22 |  |  | $ | 0.79 |
Diluted earnings per share |  | $ | 0.47 |  |  | $ | 0.73 |  |  | $ | 2.19 |  |  | $ | 0.78 |
The following table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Anti-dilutive securities share impact |  |  | — |  |  |  | 12,000 |  |  |  | — |  |  |  | 179,500 |

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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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