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Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings per share Basic earnings per share is computed by dividing net income over the weighted average number of shares of Class A non-voting common stock ("Class A Stock") and Class B voting common stock ("Class B Stock") outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method. Earnings per share have been calculated as follows:
(Expressed in thousands, except number of shares and per share amounts) |  |  |  |  |  |
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Basic weighted average number of shares outstanding | 12,553,802 |  |  | 12,825,944 |  |  | 12,696,143 |  |  | 12,940,129 |
Net dilutive effect of share-based awards, treasury method (1) | 592,784 |  |  | 1,007,050 |  |  | 498,291 |  |  | 906,010 |
Diluted weighted average number of shares outstanding | 13,146,586 |  |  | 13,832,994 |  |  | 13,194,434 |  |  | 13,846,139 |
Net income | $ | 15,639 |  |  | $ | 3,949 |  |  | $ | 41,106 |  |  | $ | 27,518 |
Earnings per share |  |  |  |  |  |  |
Basic | $ | 1.25 |  |  | $ | 0.31 |  |  | $ | 3.24 |  |  | $ | 2.13 |
Diluted | $ | 1.19 |  |  | $ | 0.29 |  |  | $ | 3.12 |  |  | $ | 1.99 |
(1) For both the three and nine months ended September 30, 2020, the diluted earnings per share computation does not include the anti-dilutive effect of 10,770 shares of Class A Stock granted under share-based compensation arrangements (7,628 shares for both the three and nine months ended September 30, 2019).

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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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