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Earnings Per Share | 12 Months Ended
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Dec. 31, 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 Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Basic weighted average number of shares outstanding | 12,642,576 |  |  | 12,904,397 |  |  | 13,248,876 |
Net dilutive effect of share-based awards, treasury method (1) | 574,759 |  |  | 947,435 |  |  | 812,493 |
Diluted weighted average number of shares outstanding | 13,217,335 |  |  | 13,851,832 |  |  | 14,061,369 |
Net income | $ | 122,986 |  |  | $ | 52,953 |  |  | $ | 28,892 |
Earnings per share |  |  |  |  |
Basic | $ | 9.73 |  |  | $ | 4.10 |  |  | $ | 2.18 |
Diluted | $ | 9.30 |  |  | $ | 3.82 |  |  | $ | 2.05 |
(1)For the year ended December 31, 2020, the diluted net income 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 and 4,050 shares for the years ended December 31, 2019 and 2018, respectively).

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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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