XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Note 2 - Earnings per Common Share
 6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

(2) Earnings per Common Share

 

Basic and diluted earnings per common share were computed as follows:  

 

  

Three Months

  

Six Months

 
  

Ended June 30,

  

Ended June 30,

 

(In thousands, except per share amounts)

 

2021

  

2020

  

2021

  

2020

 

Numerator:

                

Net income

 $21,418  $18,134  $39,424  $31,852 

Denominator:

                

Basic earnings per common share - weighted-average shares

  82,840   82,527   82,799   82,371 

Effect of dilutive stock options

  557   606   585   647 

Diluted earnings per common share - weighted-average shares and assumed conversions

  83,397   83,133   83,384   83,018 
                 

Basic earnings per common share

 $0.26  $0.22  $0.48  $0.39 

Diluted earnings per common share

 $0.26  $0.22  $0.47  $0.38 

 

Options totaling 322,150 equivalent shares for each of the three-month and six-month periods ended June 30, 2021, and 280,950 and 301,350 equivalent shares for the three-month and six-month periods ended June 30, 2020, respectively, were outstanding but were not included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

 

Unvested performance unit awards totaling 66,912 and 109,371 equivalent shares for the three-month and six-month periods ended June 30, 2021, respectively, and 99,987 equivalent shares for each of the three-month and six-month periods ended June 30, 2020, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.